Russian Duma Passes Law on Cross-Border Payments of Digital Currency and Legalization of Crypto Mining

According to RIA Novosti, the Russian Duma passed a law in second and third readings that will allow cross-border settlement and exchange transactions of digital currencies within the framework of the Experimental Legal Regime (EPR) from September 1, 2024.

In addition, the Russian Duma also passed a law in second and third readings that will legalize cryptocurrency mining in Russia from November. The law stipulates the procedures and conditions for conducting such activities. Russian legal entities and individual entrepreneurs listed in the register of the Ministry of Digital Development of the Russian Federation will be entitled to engage in crypto mining.