Russia’s Cryptocurrency Mining Bill Faces Delays

The Russian State Duma is considering a bill related to cryptocurrency mining and sales, but the legislation is not expected to be approved by fall. The bill aims to legalize crypto mining and allow the sale of mined digital currency. Currently, cryptocurrency cannot be used for settlements in Russia. The proposed law specifies that digital currency obtained through mining can be disposed of, provided that Russian information infrastructure is not used for transactions. The law would bring crypto mining into the legal field and facilitate law enforcement practices related to digital currencies. Additionally, the bill defines cryptocurrency mining and mining pools while prohibiting crypto advertising in Russia.