Odaily Planet Daily News Russia is preparing to approve a bill to regulate mining activities, which mentions a ban on organizing cryptocurrency exchanges in the country. According to a statement by Anatoly Aksakov, chairman of the Russian Duma Financial Market, the ban will come into effect on September 1 as part of a bill to regulate cryptocurrency mining activities in Russia. The bill was proposed by a group of deputies led by Aksakov and stipulates that certain exceptions will apply to crypto mining activities and mining pools to allow them to continue to operate within Russia. Aksakov also stated that digital financial assets issued by Russia will be allowed to circulate freely on national exchanges. In addition, Aksakov explained that the necessity of this ban lies in the fact that these assets are quasi-currencies, and they may compete and try to replace the Russian ruble, "but only the Russian ruble fulfills the mission of a monetary unit, which is why this decision was made." He believes that digital financial assets, rather than cryptocurrencies, may help Russia open up financial markets that are currently closed due to economic sanctions. Anton Gorelkin, co-sponsor of the aforementioned bill, further explained: “The circulation of cryptocurrencies will not be prohibited. What is prohibited is the organization of circulation, that is, the creation of exchanges and exchangers outside the scope of operation of the experimental legal system.” (Bitcoin.com)