Putin signs law on regulating digital currency circulation in Russia
Russian President Vladimir Putin signed a law on regulating digital currency circulation in the country. The document will come into force on November 1, 2024.
Control over the miner registry is transferred from the Ministry of Digital Development to the Federal Tax Service. The latter will be able to exclude companies from the list for violations within one year.
The registry may include individual entrepreneurs and legal entities. Individuals are allowed to mine digital currency without being included in the list if they do not exceed certain limits on electricity consumption.
The Russian government has received the right to ban mining, including participation in a pool, in specific regions and their individual territories. The Cabinet of Ministers will also be able to establish the procedure and cases for introducing such restrictions.
