Russia will legalize crypto mining starting in November
Crypto mining will be legal in Russia starting November 1 after the lower house of the State Duma passed a law to legalize the activity and establish the regulatory framework for cryptocurrency trading
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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