Russia’s State Duma will consider a bill on mining and regulation of cryptocurrency circulation
The first reading is scheduled for July 23
15.07.2024 - 10:15
338
2 min
0
What’s new? On July 12, the State Duma Committee on the Financial Market approved the crypto regulation bill, affecting the mining and turnover of digital assets. Its consideration by the full State Duma is scheduled for July 23, when amendments to the second reading should also be submitted.
What else is known? The bill was first presented in November 2022, and in April of this year, its edited version was submitted for consideration. The document defines such concepts as mining, mining pool, operator of the mining infrastructure, and organization of circulation of digital currency in the Russian Federation.
Thus, the organization of the circulation of digital currency means the provision of services aimed at ensuring the performance of civil law transactions or operations involving the transfer of digital currency from one holder to another, if at least one of the parties to the transactions is a Russian legal entity.
The document prohibits the organization of the circulation of digital currency, except in cases of mining and further distribution of mined assets, as well as advertising of digital assets. The government retains the right to impose a ban on mining in certain regions. The government, in coordination with the Central Bank, will set requirements for miners to individuals and legal entities, as well as limits on energy consumption.
The Ministry of Finance will begin to keep a register of legal entities and sole proprietorships engaged in mining. It should include industry participants whose energy consumption exceeds the limits set by the government.
In turn, Rosfinmonitoring will begin to collect information from miners about mined currencies and crypto wallets for their storage.
Thus, only companies and sole proprietorships from among the operators of the mining infrastructure will be able to sell cryptocurrency, while mining will also be allowed for individuals, provided that the electricity limit is met.
Useful material?
Telegram 
Twitter Market
The leader was the Solana network, with 100 million active addresses per month
Oct 17, 2024
Crypto regulations
Amendments to the regulation of financial institutions have been published for public discussion until October 30
Oct 16, 2024
Market
Over the past four years, the company’s shares have grown by 1540%, while the index has gained only 111%
Oct 16, 2024
Incidents
Over the last 24 hours, the asset has updated its all-time high at $2,34
Oct 15, 2024
Market
The Bitnomial platform will try to challenge the SEC’s position on the status of the XRP token
Oct 11, 2024
Incidents
Law enforcers explained such a small sentence by the fact that Heather Morgan actively cooperated with the investigation and played a minor role in the crime
Oct 11, 2024
Cryptocurrency rates
-
Bitcoin
$67 699
BTC
+0.39%
-
Ethereum
$2 614.51
ETH
-0.78%
-
BNB Smart Chain
$594.64
BSC
-1.65%
-
Ripple
$0.543459
XRP
-1.25%
-
Dogecoin
$0.13315
DOGE
+7.03%
-
Cardano
$0.346445
ADA
-1.64%
-
Bitcoin Cash
$371.99
BCH
+1.87%
-
Polkadot
$4.22
DOT
-2.12%
-
Litecoin
$72.8
LTC
+2.92%
-
Stellar XLM
$0.095754
XLM
+0.02%