Russian President Vladimir Putin has enacted a law that officially legalizes the mining of cryptocurrencies within the country. The new legislation, published on the government website, will take effect 10 days after its publication date.
Key Points of the Law
- Authorized Entities: Only Russian legal entities and individual entrepreneurs listed in a special registry will be allowed to conduct cryptocurrency mining, the process that generates new coins and verifies transactions.
- Individual Miners: Private individuals are permitted to mine digital currencies without needing to register, provided their energy consumption does not exceed government-set limits.
- Anti-Money Laundering Measures: The law includes provisions to prevent the use of digital currencies for money laundering purposes.
Additional Legislation Signed
In addition to the cryptocurrency mining law, Putin signed several other bills:
- Drug Advertisement Ban: Prohibiting drug advertisements on the internet and in media outlets.
- Foreign Organizations: Allowing the recognition of organizations with foreign government agency founders as undesirable within Russia.
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