A draft law tailored to regulate cryptocurrency mining has been filed with the lower house of Russian parliament, the State Duma. The legislation provides a legal definition for the extraction of digital currencies and envisages the establishment of a register for miners.
Russian Lawmakers to Review Legislation Enforcing Rules for Crypto Mining Sector
The draft of the new federal law “On Mining in Russian Federation” has been submitted to the Duma on Friday, April 29, according to the website of the house. The bill aims to bring the crypto-related industry out of the “grey” economy in Russia, a country rich in energy resources and favorable climatic conditions for mining.
The authors of the bill describe the minting of digital coins as an activity using information infrastructure and equipment located in the Russian Federation, which results in the creation of digital currency. They also introduce legal definitions for the circulation of digital currencies, mining pools and ope
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