Russia Legalizes Crypto Mining: President Putin Signs Law
CryptoNewsTerminal Staff08 Aug, 2024
Russia Legalizes Crypto Mining: President Putin Signs Law
The Russian President, Vladimir Putin, has signed a law legalizing the mining of cryptocurrencies in the country. The law was published on the official portal of legal information and is set to come into effect within 10 days of its final approval. According to the new law, only Russian legal entities and individual entrepreneurs who have completed registration with the authorities will be able to legally mine cryptocurrency. They will also be required to disclose information about the mined cryptocurrency, as well as identifiers of related transactions, to the government. The legalization of crypto mining in Russia is seen as a significant step towards the adoption of digital assets in the country. It also aligns with the government's efforts to regulate the cryptocurrency market and protect investors.
