Russian President Vladimir Putin has officially signed a law legalizing cryptocurrency mining in Russia. According to a report by Russian news agency TASS, the law introduces several key concepts, including digital currency mining, mining pools and mining infrastructure operators. Mining activities are now recognized by Russia as part of billing rather than issuing digital currency.
The new legislation specifies that only Russian legal entities and individual entrepreneurs registered with the government will be able to engage in cryptocurrency mining. However, individual miners can participate without registration, as long as their energy consumption stays within the limits set by the government.
In addition, the law allows trading of foreign digital financial assets on Russian blockchain platforms. However, the Bank of Russia retains the authority to prohibit the placement of certain assets if it is deemed a threat to the country's financial stability.
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