LIVEThe State Duma will consider a ban on “organizing the circulation of cryptocurrencies” from September 1, 2024
04/27/2024 [15:04], Vladimir Chizhevsky
A bill legalizing and organizing the regulation of cryptocurrency mining has been reintroduced to the State Duma. It contains new wording, which implies the possibility of banning the organization of cryptocurrency circulation in Russia.
For the first time, a bill to regulate mining was introduced to the State Duma back in 2022, but then it met with objections from energy workers. Now the State Duma Committee on the Financial Market has invited the authors of the project to submit an updated version of the document to the State Duma. Regarding the work of miners, some clarifications were made there, including a provision banning the “organization of circulation of digital currency.”
The document explains that the organization of digital currency circulation in Russia is considered to be:
transfer of digital currency from one owner to another, if at least one of the parties to the transaction is a Russian legal entity or individual staying in Russia for at least 183 days within a year from the date of the transaction;
transition of digital currency, which uses Russian information infrastructure facilities.
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