😱🔥Putin signs bill legalizing cryptocurrencies

#Russian President Vladimir Putin has signed the cryptocurrency bill that was recently passed in parliament. The bill regulates many issues related to cryptocurrencies, especially mining.

Russian President Vladimir Putin has signed the bill that legalizes the trading and mining of cryptocurrencies.

The bill determines the procedures and principles for the circulation of cryptocurrencies as well as the conduct of mining activities. Russian companies and individual entrepreneurs registered in the Ministry of Digital Development registry will be able to mine. Russian citizens who do not have the status of individual entrepreneurs will be allowed to mine cryptocurrencies without being registered if they do not exceed the energy consumption limit determined by the state.

On the other hand, cryptocurrencies will also be free to buy and sell on Russian blockchain platforms. In addition, cryptocurrencies can be used in international payments on an experimental basis.

The law will enter into force 10 days after its official publication. The effective date of most mining-related regulations is November 1, 2024.

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