The Russian Ministry of Finance has indicated renewed support for Bitcoin (BTC) mining as it continues to work on new laws for the cryptocurrency industry.

In specific, Russia should foster the development of industrial-scale cryptocurrency mining, according to Alexey Yakovlev, Director of the Ministry’s financial policy section.

It’s also pointless to prohibit retail or domestic Bitcoin mining, according to Yakovlev. At a recent round table titled “Mining legislation in Russia: For and Against,” Russian MPs examined the two types of bitcoin miners.

Mr. Yakovlev also reportedly stated that Russian officials came to an agreement on the regulatory framework for crypto mining enterprises a long time ago, stating that they should be supported and required to pay taxes.

However, also according to Yakovlev, there is still some dispute over retail miners. He went on to say that the Finance Ministry has no intention of prohibiting such mining. He salo said: “We believe it’s necessary to focus on the development of industrial mining, but it probably does not make sense to ban household mining.”

He then carried on to explain that lawmakers are still working on a measure to regulate cryptocurrency in Russia, with the goal of maximizing economic efficiency while minimizing potential hazards such as money laundering and terrorism financing, as well as ensuring energy security.

Some big crypto mining-related entities in Russia would be in no trouble continuing to operate if the government began a crypto crackdown. According to the CEO of BitRiver, Russia’s largest bitcoin mining colocation services provider, such moves are unlikely to have an impact.

In mid-February, Russia’s Finance Ministry filed the first documentation connected to the country’s new crypto regulatory bill. The Ministry earlier presented a proposal for regulating the cryptocurrency market, highlighting the significance of the crypto mining industry in Russia.