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New country legalizes cryptocurrencies
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Russian lawmakers are preparing to legalize the country's booming institutional cryptocurrency mining sector, but may impose strict restrictions on individuals doing "private" mining at home.
According to the websites of Finam and RBC, Deputy Chairman of the State Duma Committee on Information Policy, Anton Gorelkin, confirmed that the Council will discuss the new mining law in the current session.
It appears that the mining bill will be combined with a proposed cryptocurrency regulation law that would almost completely ban cryptocurrency exchanges from operating in Russia. Certain exceptions will be granted to companies operating in an environment supervised by the Central Bank of Russia.
However, the bank appears to have provided this privilege exclusively to international trading companies that use cryptocurrencies instead of the US dollar in settlement of international trade transactions.
It appears that institutional miners may also be allowed access to these Moscow-controlled exchanges under the new proposals.
But they will only be allowed to use these platforms to sell their digital currencies.
Gorelkin explained that the new draft law proposes allowing “only Russian companies and business operators who have obtained licenses” to continue mining.[/size]
Views 73
Added 05/01/2024 - 8:38 AM
https://economy-news.net/content.php?id=43029
Arab and international
Economy News - follow up
Russian lawmakers are preparing to legalize the country's booming institutional cryptocurrency mining sector, but may impose strict restrictions on individuals doing "private" mining at home.
According to the websites of Finam and RBC, Deputy Chairman of the State Duma Committee on Information Policy, Anton Gorelkin, confirmed that the Council will discuss the new mining law in the current session.
Will Russian law change the country's cryptocurrency mining sector?
[size]It appears that the mining bill will be combined with a proposed cryptocurrency regulation law that would almost completely ban cryptocurrency exchanges from operating in Russia. Certain exceptions will be granted to companies operating in an environment supervised by the Central Bank of Russia.
However, the bank appears to have provided this privilege exclusively to international trading companies that use cryptocurrencies instead of the US dollar in settlement of international trade transactions.
It appears that institutional miners may also be allowed access to these Moscow-controlled exchanges under the new proposals.
But they will only be allowed to use these platforms to sell their digital currencies.
Gorelkin explained that the new draft law proposes allowing “only Russian companies and business operators who have obtained licenses” to continue mining.[/size]
Views 73
Added 05/01/2024 - 8:38 AM
https://economy-news.net/content.php?id=43029
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