The Russian State Duma is expected to vote on a bill that would legalize cryptocurrency mining and the sale of cryptocurrency mined in Russia ¹. Here are some key points about the bill:
Legalization of Cryptocurrency Mining: The bill would allow cryptocurrency mining and the sale of cryptocurrency mined in Russia, which is currently not legal.
Experimental Legal Regime: The bill proposes an "experimental legal regime" for cryptocurrencies to be used exclusively in export-import deals.
Regulation: The bill would regulate cryptocurrency mining, including the creation of a national registry of approved crypto miners and rules for crypto miners set by the government and the Central Bank.
Taxation: The bill would require crypto miners to declare their income and pay taxes on their earnings.
Impact on the Economy: The legalization of mining is expected to provide the Russian treasury with a boost of $570 million.
Industry Support: The bill has the support of the Russian crypto industry, which has been lobbying for legalization and regulation.