{"id":1482572,"date":"2024-08-09T10:30:00","date_gmt":"2024-08-09T14:30:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1482572"},"modified":"2024-08-09T10:30:00","modified_gmt":"2024-08-09T14:30:00","slug":"putin-signs-law-legalizing-cryptocurrency-mining-in-russia","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/putin-signs-law-legalizing-cryptocurrency-mining-in-russia\/1482572\/","title":{"rendered":"Putin Signs Law Legalizing Cryptocurrency Mining In Russia"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">Putin Signs Law Legalizing Cryptocurrency Mining In Russia<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p><a href=\"https:\/\/bitcoinmagazine.com\/business\/putin-signs-law-legalizing-cryptocurrency-mining-in-russia\"><em>Authored by Nik Hoffman via BitcoinMagazine.com,<\/em><\/a><\/p>\n<p><strong>Russian President Vladimir Putin has officially signed a law that legalizes cryptocurrency mining in Russia. <\/strong><\/p>\n<p>According to a\u00a0<a href=\"https:\/\/tass.com\/economy\/1826725?utm_source=twitter.com&amp;utm_medium=social&amp;utm_campaign=smm_social_share\">report<\/a>\u00a0by Russian news agency TASS, the law introduces several key concepts, including digital currency mining, mining pools, and mining infrastructure operators.<\/p>\n<p><strong>Mining activities are now recognized by Russia as part of turnover rather than the issuance of digital currency.<\/strong><\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/putin-crypto-cbdc--768x403.jpg?itok=6mdTifaK\"><\/a><\/p>\n<p><strong>The new legislation specifies that only Russian legal entities and individual entrepreneurs registered with the government will be allowed to engage in cryptocurrency mining. <\/strong><\/p>\n<p>However, individual miners can participate without registration, provided their energy consumption remains within government-set limits.<\/p>\n<p>Additionally, the law permits the trading of foreign digital financial assets on Russian\u00a0<a href=\"https:\/\/bitcoinmagazine.com\/guides\/what-is-blockchain\">blockchain<\/a>\u00a0platforms.<\/p>\n<p><strong>However, the Bank of Russia retains the authority to ban the placement of certain assets if they are deemed a threat to the country\u2019s financial stability.<\/strong><\/p>\n<p>According to TASS, during a recent government meeting, President Putin emphasized Russia needs &#8220;to seize the moment&#8221; in\u00a0establishing a legal framework for digital currencies.<\/p>\n<p>He highlighted the potential of digital currencies to contribute to Russia&#8217;s economic development, stressing the need for proper regulation and infrastructure.<\/p>\n<p><strong>The law is set to take effect ten days after its official publication<\/strong>, except for specific provisions that may have different implementation dates.<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Fri, 08\/09\/2024 &#8211; 06:30<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/crypto\/putin-signs-law-legalizing-cryptocurrency-mining-russia\" target=\"_blank\" class=\"\" rel=\"noopener\">https:\/\/www.zerohedge.com\/crypto\/putin-signs-law-legalizing-cryptocurrency-mining-russia<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Putin Signs Law Legalizing Cryptocurrency Mining In Russia Authored by Nik Hoffman via BitcoinMagazine.com, Russian President Vladimir Putin has officially signed a law that legalizes&#8230;<\/p>\n","protected":false},"author":0,"featured_media":1482573,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1482572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1482572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1482572"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1482572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1482573"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1482572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1482572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1482572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}