Unrecognized Transnistria has legalized mining

In the unrecognized Pridnestrovian Moldavian Republic, on January 31, the Law “On the Development of Information Blockchain Technologies” was adopted, which officially legalized cryptocurrency mining on its territory.

Vadim Krasnoselsky, president of the unrecognized PPR, noted that the authorities are counting on investments from Russia, and that he personally was the main initiator of the development of the law.

Krasnoselsky also spoke about how the development took place: after conversations with experts, a regulatory framework was developed. Before this, government officials consulted with experts in the cryptocurrency mining industry.

The law allows for the creation of targeted free economic zones. Foreign legal entities and individuals can also engage in mining in the unrecognized Poland. Moreover, no one obliges them to register a legal entity within an unrecognized jurisdiction.

As for investors, they are provided with the most favorable conditions. They receive a guarantee for duty-free and unhindered import and export of equipment. They will also be provided with all possible assistance in matters of energy supply.

The President clarified that Transnistria has a place to get electricity. Actually, the mining farms will be powered by the Dubossary hydroelectric station and three mini-CHPs in Tiraspol.