01.11.2017 Aleksei Zenkov: “We are for a fair cryptoruble”

Aleksei Zenkov: “We are for a fair cryptoruble”
In Russia, a decision to issue a national cryptocurrency has been made. The signal to this has been recently given by the President Vladimir Putin. How did the miners, who have been already producing cryptocurrency in the country, react to the position of the head of the state? The opinion of those who advocate the legalization of this sphere has been voiced by the founder and project manager of Mining Now.
Let`s recall that Vladimir Putin said he knows about the negative attitude of the Central Bank to admission of cryptocurrencies to the Russian market. However, he added, basing on the international experience, that it is necessary to build a regulatory environment that will systematize relations in this sphere and “not to build up unnecessary barriers”.
After that Nikolay Nikiforov, the Minister of Telecom and Mass Communications of the Russian Federation, announced the possible release of a new domestic currency – the cryptoruble. Meanwhile, the heads of state authorities have already begun to set up mining centers in regions. It is known, at least, that high – capacity farms will appear in the Leningrad Region and in Udmurtia. Kremlin instructed the Russian government to legally make the regulation of the currency market by July 2018.
According to Alexander Svinin, a representative of the government of Udmurtia, the implementation of the project in the field of mining, which is planned to be carried out in cooperation with China, “will bring to investments, create additional jobs and receive a stable income from the sale of electricity.” At the same time, the chairman of the Expert Council for digital economy and blockchaining at the State Duma’s specialized committee Artem Koltsov does not exclude that mining will be actively represented in the Leningrad Region, where the governor intends to launch a farm using resources of the Leningrad Nuclear Power Plant.
According to the experts, the most likely scenario of the state regulation is an establishment of the cryptoruble and the introduction of a mining tax.
Aleksei Zenkov, the founder and project manager of Mining Now, considers the appearance of the cryptoruble as a reasonable step and agrees that regulation of this market will not go anywhere. “Cryptoruble will play a positive role if its task is to ensure entry and exit into the sphere of crypto market, transfer from cryptocurrencies to the fiat ones. In this case citizens will have the opportunity to exchange money legally, for example, paying 13 percent of income. A transparent tax scheme would bring to business representatives` notice to this market, even large ones,” he said.
The Prosecutor General’s Office of Russia has already revealed an interest in money laundering with the help of cryptocurrencies. And the will to legalize the proceeds that are obtained by criminal means, is growing. Anton Siluanov, the Minister of Finance of Russia, takes digital means of payment ambiguously, considering the cryptocurrency “just surrogate money.” Proceeding from this attitude to the mining, the participants of the crypto market share the position of Vladimir Putin about the need to build a regulatory environment.
“We are for a fair honest cryptoruble,” Zenkov concludes. – Already today, we provide an opportunity for people to receive income in the form of fiat currencies (ordinary money) through a local representation of Mining Now in Russia with the payment of income tax. This gives them the opportunity to participate in the cryptotrade legally and not to have slanting looks from law enforcement and fiscal authorities.”