The Council of Ministers of the Republic of Crimea decided to create a blockchain-cluster in the form of a cryptocurrency investment Fund to attract to the Peninsula of representatives from technology companies. This was reported by news Agency TASS.

The idea was voiced by the permanent representative of the Republic of Crimea under the President of the Russian Federation Georgy Muradov at the international economic forum in Moscow. To justify the cluster, the government is going in the special economic zones (SEZ) in the Crimea and Sevastopol. Special or free zone appeared on the Peninsula almost four years ago. On its territory there are special rules of taxation, state control, entry and other nuances of performance. The SEZ will operate at least 25 years.

According to Muradova, today a global turnover of cryptocurrency is nearly $1 trillion. The diplomat called these funds the venture and stated that they need “their refuge”.

“…this is the free economic zone as the only special area in the scale of the two regions attracts the most progressive business” — commented the decision of the territorial Muradov.

The statesman added that talking about the future of the institution blockchain cluster, the government started last year. SEZ is not the first time becomes the rationale for the development of cryptocurrency market in the country. This was supported by the representative of the Russian Association of cryptocurrency and blockchain (RAKIB) on hearings in the state Duma on 20 February. And in April, media reported about the plans of the Crimean Government to establish a cryptocurrency Fund to avoid international sanctions and attract foreign investment.

Recall that in March, two former members of the Council of Ministers of the Republic of Crimea was fined 30 000 rubles for mining cryptocurrency in the workplace. For the extraction of digital money they used computers located in the basement of the building of the Council of Ministers, and spent the mining of electricity in the amount of 57 thousand rubles.