Russian Parliament Rejects Mining Bill Allowing Crypto Payments, Expects New ...
The lower house of Russian parliament, the State Duma, has voted against a piece of legislation designed to regulate cryptocurrency mining. While lawmakers turned down that proposal, which also aimed to legalize crypto payments in the country, another draft law on mining, which permits cross-border transactions with digital assets, is expected in the legislature in the near future. Alternative Proposals to Regulate Crypto Mining Clash in Russian Parliament This week, the State Duma of the Russian Federal Assembly voted to reject a draft law on cryptocurrency mining. The bill “On Mining in....
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Legislation making it illegal to pay with cryptocurrencies has been filed with the State Duma, the lower house of Russia’s parliament. The sponsors of the bill want to task crypto platforms to prevent transactions that could facilitate payments with digital assets. Draft Law Banning Use of Cryptocurrency for Payments Submitted to Russian Parliament Russian lawmakers will review a new bill imposing a ban on the use of digital financial assets, a legal term currently encompassing cryptocurrencies, and utilitarian digital rights, or tokens, as a means of payment in Russia. The document....
A draft law designed to regulate the mining of digital coins in Russia is also legalizing the use of cryptocurrencies in international settlements. It has been submitted to the Russian parliament after the rejection of an earlier bill which was aiming to allow domestic crypto payments as well. Draft Legislation on Crypto Mining Allows Russian Residents and Businesses to Pay With Crypto Abroad Russian lawmakers will review a new legislative proposal for the legalization of cryptocurrency mining, which has seen significant growth over the past few years. Announcing the filing of the bill on....
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....
Russia’s Parliament is also considering two other bills related to digital assets: regulating miners’ activities, and requirements for firms handling crypto transactions. Russian President Vladimir Putin has signed a bill into law prohibiting digital financial assets as payments more than a month after it was introduced to the country’s lower chamber of Parliament.In a Thursday update, the Russian State Duma noted that Putin signed a bill suspending certain parts of an existing federal law “on banks and banking activities,” effectively making it illegal for people to use cryptocurrencies....
Legislators in the lower house of Russia's parliament also dropped the notion of a special register for mining operators. In less than a month, the draft of a crypto mining bill in the Russian parliament has lost several key points, such as the obligation for mining operators to join a special registry and a one-year tax amnesty for all those who've registered. As the reasoning goes, the previous draft would lead to federal budget losses. The fresh draft of the law “On mining in Russian Federation,” dating to May 20, appeared in the database of the lower chamber of the Russian parliament,....