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Russia may build an ENTIRE CITY to mine Cryptocurrencies

The proposal by a Russian MP would create a new city dedicated to crypto-mining in the Far East

(ria.rutranslated by RussiaFeed) – State Duma deputy Boris Chernyshov has sent a letter with an initiative to the Ministry of Industry and Trade and the Ministry of Communications. According to the proposal, this will allow citizens and the state to get a new source of income, and to create a competitor of the Silicon Valley in the future. The city should be located in Siberia or the Far East, not far from a large hydroelectric power station.

The State Duma proposes to build in Russia a city for the production of crypto-currency. A corresponding initiative was made deputy of the lower chamber of the parliament Boris Chernyshov. According to him, more and more people are being engaged in mining – they create mining farms and rent mining hotels, so Russia could use this trend to create a new source of income for citizens and the state budget.

“A mining city will help people to make money, to buy apartments and other things they need. It will also replenish the state budget at the expense of taxes. If we build such a settlement near the border, for example, with China, this will immediately cause a great interest; there will be massive flows of business tourists. Such a place will become a business forum, will bring investment from abroad. This is the point of growth,” – the parliamentarian declared.

He explained that he proposes to create a city for the production of crypto-currency in Siberia or the Far East, not far from the largest hydroelectric power stations. The exact location of the construction of the settlement is to be determined by departments, experts and private investors.

According to the deputy, the production of crypto-currency is becoming an important direction of innovative development. , it will be possible to create a leading technological cluster on the basis of the Russian mining city. The parliamentarian is sure that it will take “the garland of the victory” from the Silicon Valley In the future.

Chernyshov noted that mining has not yet been fixed in the legislation and this needs to be rectified after the construction of the city.

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