Russian President Vladimir Putin has signed a bill that
officially legalizes cryptocurrency mining.
The bill introduces new concepts, including digital currency mining, mining pools, mining pool infrastructure operators, address identifiers, and individuals who organize mining pool activities.
Mining is considered part of the circulation, not the issuance of digital currency. Only registered Russian legal entities and individual operators are entitled to mine,
but individuals who do not exceed the energy consumption limits set by the government can mine without registration.
In addition, foreign digital financial assets can be traded on Russian blockchain platforms, and the Russian Central Bank has the right to ban individual issuances if they are found to threaten financial stability.
The bill will come into effect ten days after its official release. Putin said this is a promising economic field,
Russia must seize the opportunity to quickly establish a legal framework and regulations, develop infrastructure, and create conditions for the circulation of digital assets.
