Russia to allow block reward mining, but only in energy-rich regions
A new bill set to be tabled in parliament will relegate BTC mining to regions with hydroelectric and nuclear power energy and ban it from regions like Moscow.
A new bill set to be tabled in parliament will relegate BTC mining to regions with hydroelectric and nuclear power energy and ban it from regions like Moscow.
The State Duma approved the draft law in the second and third readings but will still need to be approved by the Upper House and signed by President Vladimir Putin before it can become a law.
The bill proposes to directly prohibit the use of digital financial assets and utilitarian digital rights as a payment method for transferring goods and services in Russia.
The new bill introduced by the head of the House Financial Markets Committee, Anatoly Aksakov, proposes to clarify that only the Russian ruble is a unit of payment in the country.
Russia's State Duma has revised several draft block reward mining bill provisions, and one of these is a proposed one-year tax amnesty for block reward miners.
The Ministry of Finance submitted a new draft bill in parliament that will license exchanges, make Bitcoin a legal asset, and require online exam for investors.
The State Duma in Russia is weighing a law that would limit digital currency purchases by non-accredited investors as it seeks to enhance investor protection.
The reports note that some lawmakers in the country are considering revising some aspects of the payments ban including allowing digital currencies to be used as payment in domestic contracts.
The State Duma adopted a new bill that seeks to dig into aspiring public officials’ digital currency holdings in its first reading. The bill still has to go through two readings before proceeding to the upper house.
The State Duma is reportedly seeking to abandon criminal liability for digital currency users—for now.
A Russian ministry has stood up for the digital currency industry against a proposed blanket ban. It urged the gov’t to consider regulating instead of banning.
The federal assembly had proposed the lifting of the ban for distribution of COVID-19 info in Russia, but another ministry is opposing it.