#PUTIN RUSSIA
Russia has recently legalized cryptocurrency mining, with President Vladimir Putin signing a law that permits the activity ¹. The law introduces several key concepts, including digital currency mining, mining pools and mining infrastructure operators .

*Key aspects of the law include:*

-Legalization of cryptocurrency mining- The law legalizes cryptocurrency mining for legal entities and individual entrepreneurs .
Framework for cross-border payments The legislation introduces an experimental framework that allows selected companies to use cryptocurrencies for cross-border payments and exchange trading .
Advertising and transaction restrictions The law includes strict measures on advertising and promoting digital currencies, and mandates that crypto miners disclose information about the digital currency they obtain through mining to a state-authorized body.
Implementation and future prospects Most of the amendments related to the regulation of cryptocurrency mining are expected to come into force on November

Regulation of cryptocurrency exchanges and transactions

Licensing requirements: Cryptocurrency exchanges must satisfy certain criteria to obtain a license and be included in a dedicated government register .
Transaction requirements All cryptocurrency-to-fiat transactions must be conducted through bank accounts, and users must go through know-your-customer (KYC) checks with both banks and cryptocurrency exchanges .
Reporting requirements_: Crypto-related transactions bigger than 600,000 rubles would have to be reported to the Federal Taxation Service .