Russia wants to host the largest centers of mining of crypto-currencies of Europe

Undeterred by the federal restrictions that will soon touch the crypto-currencies, the regional authorities in Moscow have announced their intentions to attract companies of mining of crypto-currencies and european investors in Russia. With a supply of electric power cheap and infrastructure complete, accessible, and Russia has serious advantages.


The first advantage : cheap energy

“Electricity is cheaper here. The minor europeans are willing to relocate in Russia, ” said a member of the parliament of the city during a press conference. “The regional infrastructure is very well developed. The miners can either supply electricity from the public network, or install their own generators gas turbine power “, added Igor Kohaniy, president of the Commission of the construction and energy of Moscow. Vladimir Zhuk, vice-president of the Committee of economy and investment of the city, is also very optimistic. He said : “investors do not come with empty hands. They build farms, mining and local entrepreneurs will also benefit. The cost of electricity is very low here. Why not take advantage ?” He also said that this attraction crypto-tourism is an intelligent policy, and suggested that the authorities will do much more.

All the world is agree on the procedure to follow

However, everyone in power does not share the same optimism about the “crypto-tourism” in Russia. The federal authorities are drafting a law that will certainly impose restrictions on the farms to mine Bitcoins. Besides, the Russian president, Vladimir Putin, has set a deadline to the ministry of Finance and the central bank to submit their proposal for a new regulatory framework around crypto-currencies.

Source : Cointelegraph