Draft Law on Crypto Mining from Russia

With the spread of cryptocurrencies, new steps are coming from many countries in crypto mining. Now, with the occupation of Ukraine, it has been on the agenda of the whole world. from russia There has been a move in this regard.

Russian authorities have issued a report on cryptocurrency mining in the country. draft law It was submitted to the State Duma, the lower house of the Russian parliament, for approval. The news showed that the bill submitted to the parliament on April 29 was created to eliminate the uncertainties about the cryptocurrency mining activities in the country.

Miners will need to register

According to the statements, the draft covers mining, which has a serious role in the production of cryptocurrencies. An activity that uses the information infrastructure and equipment of the Russian Federation defined as. It was also stated that the authorities are planning to introduce legal definitions on issues such as digital currencies and mining operations.

This law created allows cryptocurrency miners to operate under a special license provided by federal authorities. record intends to do it. In addition, individuals who individually mine Bitcoin if they exceed the electricity consumption limits set by the country. ‘individual entrepreneur’ that they can register as

And also only registered persons or institutions It is also in the draft law that mining activities can be carried out. Mining facilities, on the other hand, include the cryptocurrencies produced, the types of these currencies, and their relations with other institutions (such as stock market, bank). record keeping It is also among the news that there will be an obligation.

Finally, if the parliament approves, the registered miners a one-year ‘amnesty’It is noted that in this way, mining operations can solve problems such as paying taxes, customs problems related to imported equipment and acting in accordance with regulations.