Ukrainian law may separate mining from encrypted currency

release:2018-02-06 16:08:02 publisher:ARTS coin_Global art digital asset trading

Ukrainian lawmakers should separate the regulation of encryption from the legal status. The new approach was proposed by the chairman of an important parliamentary committee. It criticized law enforcement for cracking down on encrypted miners. Police seized mining equipment in a series of raids this week. Authorities say coins have been used to fund pro-Russian separatists.

It's just calculation......

Olexandr Danchenko, head of the Ukrainian government's information and communications commission, says encryption money and encryption technology should be regulated separately. He accuses Ukraine's security services of putting pressure on miners. Lawmakers are working with digital market experts. At a meeting in Kiev, executives and government officials said mining was just a calculation.

According to Danchenko, Ukraine's share of the world's encrypted money market has shrunk to just 3. During the negotiations, he called for a "separation from the encrypted currency". Ukraine's deputy prime minister and minister of economic development, Kubiv, agreed that it could be passed. Draft relevant legislation to solve this problem.

Olexandr Danchenko warned that many Ukrainian miners were leaving the country as a result of the authorities' crackdown. He said Canada was creating the best conditions for the mining industry and our investors were also investing there.

Under pressure......

On Thursday, police raided several mining facilities in Kiev, Kiev, and Cherkcio, where they exploded. A search at the PJSC Kvazar factory in the capital has also confiscated 400 mining equipment. Police have seized more than 1, 000 graphics cards, 1, 500 hard drives, 500 motherboards and several laptops.

According to Ukrainian authorities, the proceeds of exploitation have been used to finance separatist activities in Donetsk and Luhansk in eastern Ukraine. Proof of the transfer of money to areas controlled by pro-Russian forces. The money is stored in Qiwi and Yandex wallets.

"money officially banned in Ukraine has been used to buy military equipment for illegal armed groups in LPR and DPR," Ukraine's deputy prosecutor, Anatoliy Matios, said at a news conference in Kiev. Weapons and ammunition... "the investigators have identified individuals involved in mining operations... it is not clear why they set up their own farms in Ukraine, because the volatile region borders Russia, It is thus much easier to channel funds or equipment to the separatists on Russian territory.

Separate solution......

If Ukraine decides to solve the mining problem alone, it may adopt some encryption laws sooner than expected. Russia has made similar proposals. In Russia, the legalization of encrypted money has led to the fragmentation of institutions. But most officials agree that encryption can be legalized and regulated. Even Russia's central bank, which has opposed the legalization of encrypted currencies such as Bitcoin, recently announced it would accept encryption.

Since October last year, two bills regulating encrypted money and mining have been pushed through Rada commissions. However, no significant progress was made on 2018. New legislation could provide incentives for miners, including low electricity prices.

Danchenko warned that while other countries after the collapse of the Soviet Union were also trying to attract miners, Miners from Ukraine have left Ukraine. Belarus will soon complete the process of legalizing the entire encryption industry and tax-exempt mining companies. Countries like Uzbekistan are also offering cheap electricity and other incentives.

Source: home of Bitcoin