Russia enacts a law banning cryptocurrency transactions and mining, giving the government power to control digital currencies.
Russian President Vladimir Putin has signed a law legalizing cryptocurrency mining in Russia, starting in November 2024. The law outlines regulations, restrictions, and penalties for mining activities, and mandates miners to report their operations to government authorities.
Russia's State Duma has passed a law requiring cryptocurrency miners to comply with anti-money laundering (AML) regulations, expanding existing laws to include miners and mining pools.
The Russian State Duma adopted a bill on cryptocurrency mining in the first reading, defining who can mine and trade cryptocurrencies, and mandating compliance with anti-money laundering rules.
The Russian State Duma's Financial Markets Committee approved a bill to regulate cryptocurrency mining, set for first reading on July 23. The bill aims to control mining activities and prevent criminal use of cryptocurrencies.
The Bank of Russia and Rosfinmonitoring introduced a pilot 'know your crypto customer' system that connects users' fiat operations to their activities on the blockchain. Five Russian banks are participating in the pilot set to conclude in April 2023 but it may extend.
