Russia has adopted a law on legalization of cryptocurrency mining
By ForGeeks The Russian parliament has approved a bill that regulates cryptocurrency transactions. According to this law, Russia will set conditions and restrictions for mining, as well as allow foreign cryptocurrencies to access domestic platforms.
The bill will also allow foreign cryptocurrencies to operate on domestic platforms.
In Russia, only legal entities and individual entrepreneurs registered in a special register will be able to engage in mining. Individuals will also be able to engage in mining, but only if their electricity consumption does not exceed the established norms.
In Russia, only legal entities and individual entrepreneurs registered in a special register will be able to engage in mining.
The Ministry of Digital Development will control the activities of miners. Miners will have to provide information about the cryptocurrency mined and identifiers addresses.
The final version of the law authorizes the circulation of foreign digital financial assets on Russian blockchain platforms. However, advertising cryptocurrencies to an unrestricted audience is still prohibited. The law also defines categories of people who cannot engage in mining. These are persons who have a criminal record for certain types of crimes, as well as those associated with extremism or terrorism.
The government has the right to impose restrictions on mining activities in regions with energy consumption problems. It is also prohibited to combine mining with activities in the energy sector.
The law will come into force after official publication. However, some of its provisions have different entry into force dates.
The law will enter into force after its official publication.
