Russian official: State should confiscate cryptocurrency from illegal miners

According to Golden Finance, Yevgeny Masharov, a member of the Russian Public Chamber of Commerce and policy maker, stated that authorities should be granted the power to confiscate cryptocurrency from illegal or quasi legal Bitcoin miners. Masharov believes that this proposal will deter "grey" miners by making illegal mining unprofitable. Masharov stated that illegal miners in many regions are putting enormous pressure on their power grids. If this proposal is accepted, various regions of Russia, especially those with energy shortages, will breathe a sigh of relief.