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The President signed Federal Law On Amendments to Certain Legislative Acts of the Russian Federation.
The Federal Law aims to establish a legal framework for regulating digital currency mining activities.
Specifically, it outlines the conditions under which digital currency mining can be conducted and sets forth the procedures for monitoring (overseeing) the circulation of the digital currency. It also ensures compliance with legislation of the Russian Federation in carrying out mining operations.
The Federal Law empowers the Government of the Russian Federation to prohibit digital currency mining, including participation in mining pools, within specific regions or territories of the Russian Federation.
Furthermore, the Federal Law outlines the procedures and conditions for the circulation of obligations, whose issuance, accounting, and circulation are conducted through information systems not compliant with Russian law. It also defines the procedures and conditions for the circulation of Russian digital financial assets within foreign information systems.
August 8, 2024