The Russian State Duma approved a law that will allow crypto mining in the country from November 1 and will create the relevant regulatory framework for the trading of digital assets.

From then on, cryptocurrency mining will be legal in Russian territory, following “specific regulations that will regulate energy consumption and the registration requirements of miners with the Ministry of Digital Development.”

Different institutions will intervene in the regulation, and the Central Bank will be the entity that concentrates the primary powers.

Miners will have the obligation to report to the government about “the digital currencies they obtain through mining, and the Bank of Russia will have the right to prohibit or restrict cryptocurrency transactions to maintain Russia’s monetary stability.”

M.Pino

Source: cripto247

(Reference image source: Kanchanara en Unsplash)

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La entrada Russia will legalize crypto mining starting in November apareció primero en Bitfinance.

This Wednesday, the European Central Bank announced the start of the test phase for a possible digital euro starting next November 1.

Members of the ECB council indicated that with this preparation phase, aspects such as the necessary technologies and platforms, the regulatory framework, the providers and issuers of the digital euro, among others, will be investigated.

“After two years, the Governing Council will decide whether to move to the next stage of preparation, to pave the way for the possible future issuance and launch of a digital euro,” the ECB stated.

It is important to clarify that the beginning of the preparation phase does not mean that a digital currency will be issued. Nor is it a tool to decide whether to issue a digital euro, since it is the power of the Governing Council to make that decision “once the legislative process of the European Union has been completed.”

Since June of this year, the European entity has launched several initiatives related to this important decision. In any case, “the launch of any digital euro will likely attract the attention of regulators and legislators, who will have their elections for the European Parliament in June 2024.”

Regarding the crystallization of a digital asset in the community, 2026 is discussed as a possible scenario, after the relevant tests and studies.

M.Pino

Source: cointelegraph

(Reference image source: Christian Lue, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada ECB will begin preparation phase for the digital euro apareció primero en Bitfinance.