The State Duma of the Russian Federation stated that mining could become a promising way to utilize APG

19:59, November 20, 2023

The State Duma of the Russian Federation stated that cryptocurrency mining could become a promising way to utilize associated petroleum gas (APG).

Photo: pxhere

According to parliamentarian Pavel Zavalny, turning PNG into a cryptocurrency is a very good and important direction.

He stressed that it should be developed. For example, Gazprom Neft three years ago began implementing a project to use electricity from APG for cryptocurrency mining at the Alexander Zhagrin field in the Khanty-Mansi Autonomous Okrug.

At the same time, mining currently requires elaboration of legislation, as it is in a gray zone.

Zavalny noted that there is no regulatory support for mining yet, but work is underway on this. The deputy added that Bitcoin and other digital currencies are the currency of the future.

Earlier, ABN24 reported that the Federation Council called for a moderation of the ardor of banking organizations, which managed to increase profits by 10 times by the end of 2023. At the same time, financial institutions can receive 2.6 trillion rubles this year.