National agency for prospective projects releases draft order on mining-money activities

The National Agency for Prospective Projects has published the draft order by its director regarding the approval of the rules for implementation of mining-money activities. The document outlines guidelines for the organization of mining activities, aligning with the regulatory framework for licensing service providers engaged in crypto-assets circulation.

Key points highlighted in the draft order include:

1. Exclusive Electronic Platform: Mining-money activities are exclusively conducted through the electronic platform of mining-pool, emphasizing the platform's central role in facilitating mining operations.

2. Responsibilities of Mining Money:

   • Ensuring the proper functioning of the electronic platform.
   • Maintaining a separate account of operations for mining-money participants.
   • Facilitating the connection requests of national and foreign miners to the electronic platform.
   • Executing applications from mining-pool participants to release crypto-assets discovered during mining.
   • Ensuring the information security of the electronic platform.
   • Keeping a register of mining participants.
   • Creating daily backup copies of all operations performed by mining money participants on electronic media.
   • Adhering to legal documents pertaining to anti-money laundering, counter-terrorism financing, and the financing of weapons proliferation.

3. Compliance Requirements: Mining-pool must comply with legislative requirements related to the promotion of crypto-assets and the overall conduct of its activities in the sector.

4. Local Document Development: Mining-pool is mandated to develop and approve local documents governing various aspects, including connection to mining, distribution of crypto-assets among participants, listing and delisting of assets on the electronic platform, and rules for the verification of miners.

5. Prohibited Activities: The electronic platform of Mining-Pul prohibits certain activities, including operations involving the purchase, sale, or exchange of crypto-assets found in the course of mining, storage of crypto-assets of mining participants, transfer of pre-circulated crypto-assets to crypto-wallets, and anonymous crypto-asset mining.

6. Limitations on Use: Mining-money is explicitly restricted from using the crypto-assets of mining-money participants found during mining for any transactions or purposes beyond the scope of mining activities.

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