"Russia Embraces Cryptocurrencies: Putin Signs Landmark BillIn a significant move, Russian President Vladimir Putin has signed a bill regulating cryptocurrencies, paving the way for their legalization in the country. The new law outlines guidelines for cryptocurrency trading, mining, and circulation, while also establishing a framework for mining activities.Russian companies and individual entrepreneurs registered with the Ministry of Digital Development will be permitted to engage in mining operations. Additionally, individuals without entrepreneurial status can mine cryptocurrencies without registration, provided they stay within the government-mandated energy consumption limits.The bill also allows for the buying and selling of cryptocurrencies on Russian blockchain platforms and enables their use in international payments on an experimental basis. The law is set to take effect 10 days after its official publication, with most mining-related regulations coming into force on November 1, 2024.This development marks a significant shift in Russia's stance on cryptocurrencies, potentially opening up new opportunities for the industry."
