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On April 22, the Shenzhen Municipal Bureau of Statistics released economic data for the first quarter of 2026. According to the unified accounting results of Guangdong Provinces GDP, Shenzhens GDP reached 959.413 billion yuan in the first quarter of 2026, a year-on-year increase of 5.8% at constant prices. The citys economy maintained steady progress, with high-quality development moving towards new and better directions, further demonstrating its resilience and achieving a good start. By industry, the added value of the primary industry was 642 million yuan, an increase of 7.3%; the added value of the secondary industry was 322.347 billion yuan, an increase of 7.3%; and the added value of the tertiary industry was 636.425 billion yuan, an increase of 5.0%.On April 22, the General Office of the Guangdong Provincial Peoples Government issued a notice on the "Action Plan for Cultivating and Serving High-Quality Enterprises by Relying on Regional Equity Markets." The notice states that the main objectives for the 15th Five-Year Plan period are: the Guangdong Equity Exchange Center to add no fewer than 3,600 new listed companies (including 1,800 on the "Specialized, Refined, and Innovative" board, 1,500 on the Science and Technology Innovation board, and 300 on the Guangdong Rural Revitalization board); and the Shenzhen Qianhai Equity Exchange Center to add no fewer than 3,250 new listed companies on its "Specialized, Refined, and Innovative" board and other related boards. In principle, the annual completion rate of these targets should not be lower than the scheduled progress, with the combined number of new listed companies on the two equity exchanges expected to be no less than 2,000 by 2026. By the end of 2030, the goal is to have 6,000 companies listed on the Guangdong Equity Exchange Center and 4,000 companies listed on the Shenzhen Qianhai Equity Exchange Center, bringing the total to 10,000 across the province. During the 15th Five-Year Plan period, the goal is to cultivate more than 10 domestic and overseas IPO companies and more than 50 companies listed on the National Equities Exchange and Quotations (NEEQ) through the Guangdong Equity Exchange Center, and more than 20 domestic and overseas IPO companies and more than 30 companies listed on the NEEQ through the Shenzhen Qianhai Equity Exchange Center, striving for even better results.According to reports, Germany has stated that Russia will prevent Kazakhstani oil from flowing into German refineries.EU Energy Commissioner: Even with our most optimistic outlook, the energy market situation in the coming months remains quite challenging.EU Energy Commissioner: Global liquefied natural gas prices will not be stable in the coming years and may even rise.

The Russian Ministry of Finance Has Completed A Bill To Regulate Cryptocurrency Mining

Cory Russell

Apr 18, 2022 10:54

The draft legislation of the crypto bill "On Digital Currency" by the Ministry of Finance (MoF) emphasizes mining and trading laws.


Operators of exchanges and digital trading platforms will be licensed and regulated by a Russian government entity.


The new rule comes as a result of a rising desire for mining among Russian ministers.


Russia's new crypto regulatory law, according to information supplied by Russian news source Kommersant, would be rigorous in its approach.


The most current version of the draft legislation covers the new trading and mining laws for cryptocurrencies (Bitcoin, Ethereum, Litecoin, and others) introduced under the bill "On Digital Currency."

Russia Creates New Crypto Bill

The bill's additional standards for exchange and digital trading platform providers were one of the bill's centerpieces. According to Kommersant, these operators will now work as a team.


The exchange operators will be the ones to buy and sell cryptocurrencies on their own behalf and at their own cost, while the operators of digital trading platforms will be in charge of the organized bidding.


Additionally, these operators will be required to establish a distinct structural unit, produce yearly reports, meet the needs of new management bodies, perform internal control and auditing, and more.


They will also need to be classified as an AML/CFT organization, and their operations will be regulated and licensed by a Russian government authority.


Finally, for the first time, the measure will concentrate on the crypto mining process and companies. After registering with the appropriate authorities, legal companies, and individual miners, the law specified that crypto mining might be done.


These operations will be taxed individually, and data centers will be made available for mining if the owner is a Russian legal company.

Mining is in high demand

While the Russian government was planning to take cryptocurrency in January, things started to pick up pace once the Russian-Ukraine conflict erupted. Not only was the demand for cryptocurrencies increasing, but so was the need for mining.


Russia's Deputy Energy Minister, Evgeny Grabchak, stressed that the legal void around crypto mining must be filled as quickly as possible, with a clear set of laws and regulations in place.


To make the process more efficient, he advised decentralizing it by choosing mining locations on a more regional level rather than at the federal level.


With these rules about to take effect in the near future, it seems that the transition from calling for a mining ban to accepting controls is more of a necessity than a natural shift of attitude.

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