Russia is developing a mining-pools

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The Russian crypto Association is working on two projects to create mining pools that offer the best conditions for local companies. There is a steady growth in the industry, currently 70'000 enterprises are working in the mining sector.

The Russian Association of cryptocurrency and blockchain (RAKIB), representing the interests of companies associated with cryptocurrency, has decided to actively support the development of mining in the country, participating in two projects to create Russian mining pools. One of the main tasks - to return to Russia part of the money which now comes in a foreign company, said the representative of RAKIB Arseny Weltzin.

According to RAQIB in the field of mining in Russia employs more than 400'000 people working in 70,000 businesses. Some of the businesses are industrial farms, but many Russians also mine cryptocurrencies in their homes and garages. Weltzin and his colleagues believe that the number of miners-Amateurs is gradually reduced, and the market of professional players and hire more professionals, from electricians and engineers-chillers, to IT specialists and software developers.

Most of these objects are currently working with Western and Asian mining pools, whose operators control the distribution of income. Referring to the fact that the use of pools based abroad increases dependence on foreign contractors, jurisdiction and tax regimes, RAKIB expresses its determination to support the creation of Russian mining pools.

The first two pools are already being developed — RAKIB participates in a joint project with Crypto Universe and in the project of creating a national mining pool called "Mine Russia". Each of the pools has a planned bandwidth to support 3,000 miners and will handle a number of leading cryptocurrencies. The role of RAKIB will also include the collection and exchange of statistical and analytical data with participating companies.

The conditions for the development of mining in Russia
The Russian crypto Association has announced two ambitious projects at a time when the prospects of the mining industry in the country are improving.

Cryptographic transaction processing is a powerful energy-intensive computation, and cheap energy is always welcome. Russia has one of the lowest electricity tariffs in the world, and in recent months they have decreased even more - from 5-7 rubles per kilowatt at the end of last year to 4-5 rubles, and in some regions to 2.5 rubles.

The Russian authorities are preparing to adopt the long-awaited rules for regulating the cryptosphere in the country. The updated legislation will be presented for public debate in October, before the deputies of the State Duma pass it for second reading and final approval.

Three bills aimed at regulating various aspects of the crypto-sphere were considered in the first reading this spring, but their adoption was postponed to the autumn session of the lower house of Parliament to give deputies enough time to synchronize projects. Most Russian officials and regulators approve of mining, but are less inclined to accept the legalization of cryptocurrency and allow its spread in the country.

RAKIB plans to promote "full legalization" of mining business in the country. This month, the Association will present a proposal to introduce a certification regime for miners. Documents and standards are currently being prepared in cooperation with industry representatives. Mining companies will have to meet more than 30 requirements for certification.

Link to information resource - https://altstake.io/news/rossiya-razrabatyvaet-mayning-puly