A bill on cryptocurrency mining was introduced to the State Duma

A group of 16 deputies submitted to the State Duma a bill on the legalization and regulation of cryptocurrency mining. The document was published on the website of the lower house of parliament.

Deputies propose, from January 2023, to allow the sale of mined cryptocurrency through foreign systems without complying with the law on currency regulation or through a special platform that will be created in Russia. In both cases, the tax authorities will need to be notified of transactions, Anatoly Aksakov, head of the financial market committee and co-author of the bill, explained to RIA Novosti.

Requirements for the activities of citizens and companies that mine cryptocurrency will be determined by the government in agreement with the Central Bank.

Despite the legalization of mining, the bill included a ban on advertising (or offering in one form or another) cryptocurrencies. blockchain project The director of the Indefibank told the BBC Russian Service that this clause could in fact lead to a ban on the circulation of cryptocurrencies, including exchangers and crypto exchanges.

In January, the Central Bank proposed a complete ban on financial transactions with cryptocurrency on the Russian market, but after the start of the war in Ukraine and tougher sanctions, it changed its rhetoric and, together with the Ministry of Digital Development, began to consider the possibility of legalizing international payments in cryptocurrencies.