Russian President Vladimir Putin signs law legalizing cryptocurrency mining in Russia
Only Russian legal entities and individual entrepreneurs included in a register will have the right to mine.
The approved law introduces new concepts, including digital currency mining, mining pool, mining infrastructure operator, address identifier, and person organizing mining pool activities. Mining itself is recognized as a component of turnover, not the issuance of digital currency.
Only Russian legal entities and individual entrepreneurs included in the register will have the right to mine. Individuals who do not exceed the energy consumption limits set by the Russian government will have the right to mine digital currency without being included in the register.
According to the document, foreign digital financial assets will be able to be traded on Russian blockchain platforms and the Bank of Russia will have the right to prohibit the placement of individual issues if it finds a threat to Russia's financial stability.