Putin passes legislation making cryptocurrency legal.
Vladimir Putin, the president of Russia, has signed the cryptocurrency bill that was just approved by parliament. The bill controls a number of cryptocurrency-related matters, chief among them mining.
President Vladimir Putin of Russia has signed the legislation allowing for the mining and trading of cryptocurrencies.
The bill establishes the guidelines and practices for both the mining and cryptocurrency circulation processes. Mining will be available to Russian businesses and individual entrepreneurs who have registered with the Ministry of Digital Development. Russian nationals will be able to mine cryptocurrencies without registering if they do not currently hold the status of independent enterprises.
if they do not exceed the energy consumption limit determined by the state.
On the other hand, cryptocurrencies will also be free to buy and sell on Russian blockchain platforms. In addition, cryptocurrencies can be used in international payments on an experimental basis.
The law will enter into force 10 days after its official publication. The effective date of most mining-related regulations is November 1, 2024.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
X : Cryptomantr