Russia’s New Law Tightens Mining Controls and Boosts Transaction Surveillance ✅
#Russia ’s new crypto law, effective Nov. 1, significantly increases government oversight on cryptocurrency activities, granting state authorities the power to impose regional mining restrictions and monitor infrastructure.
Federal agencies now have expanded access to crypto address identifiers for tracking illicit activities. The law also shifts oversight of the national mining registry to the Federal #Tax Service, enforcing stricter regulations on mining companies.
Alongside its #regulatory push, Russia is advancing a state-backed digital ruble and exploring cross-border crypto use to reduce dependency on the U.S. dollar in foreign trade.
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