The Federation Council approved a law on legalization of cryptocurrency mining in Russia. This was reported by the TASS agency.
The bill was initiated by a group of people's representatives led by the chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov.
The project was submitted for consideration in the lower house in November 2022, and in April 2024 its revised version was submitted to the State Duma.
Requirements for the activities of individuals and legal entities mining digital currency, including participants in mining pools, as well as for individuals organizing their activities, will be established by the Russian government in coordination with the Bank of Russia. The Ministry of Digital Development will monitor compliance with these requirements.
Only Russian legal entities and individual entrepreneurs included in a register will be allowed to mine. Individuals who do not exceed the power consumption limits set by the Russian government will be allowed to mine digital currency without being included in the registry.