Bitcoin Regulation in Russia | ForkLog

ForkLog 6 23.07.2024

Russian State Duma Reviews Cryptocurrency Mining Legislation

On July 23, the Russian State Duma will conduct the first reading of a bill aimed at regulating cryptocurrency mining. This was reported by Vedomosti. Lawmakers have intensified efforts to legalize the sector following demands from President Vladimir Putin. He criticized the uncontrolled energy consumption by miners, which, according to him, has already led to […]

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ForkLog 10 15.07.2024

Russian Duma Committee Endorses Bill for Experimental Cryptocurrency Settlements

The Russian State Duma’s Committee on Financial Markets has approved for first reading a bill establishing experimental legal regimes (ELR), which would allow the Bank of Russia to create a platform for using cryptocurrencies in international settlements, reports Interfax. The document grants the Central Bank of Russia regulatory functions. The project is automatically exempt from […]

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ForkLog 7 12.07.2024

Russian Duma Committee Endorses Cryptocurrency Mining Regulation Bill

On July 12, the Russian State Duma Committee on Financial Markets recommended that the lower house of parliament adopt a bill on the regulation of mining activities in its first reading. This was reported by TASS. The State Duma is expected to review the document on July 23. The current version of the mining bill […]

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ForkLog 7 06.06.2024

Russian Mining Bill Faces Calls for Revision

The Legal Department of the Russian State Duma has identified issues with a bill regulating mining and introducing a partial ban on cryptocurrency circulation in the country. The document was published by the Telegram channel “Mendeleevshina.” According to the review, vague wording in the article defining the organization of digital currency circulation is inconsistent with […]

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ForkLog 23 13.05.2024

Russia Proposes New Fines for Illicit Miners

The Expert Council under the Russian government has advocated for the implementation of remote energy consumption checks to combat illicit miners, according to Izvestia. In cases where actual power usage exceeds the amount declared in bills, it is proposed to fine violators, calculating the penalty based on industrial rates. Currently, bills for excessive electricity consumption […]

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ForkLog 49 26.04.2024

Russian Legislation Proposes Partial Ban on Cryptocurrency Circulation

The Russian State Duma has received a new version of the bill regulating mining. Among other provisions, it includes a ban on the organization of cryptocurrency circulation, except for experimental regimes by the Central Bank and the sale of coins by miners, reports Interfax. The bill defines “organization of circulation” as providing services that result […]

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ForkLog 13 23.04.2024

Russia Sets Date for Cryptocurrency Pilot in International Settlements

Deputies of the State Duma have introduced a revised draft law permitting the Central Bank to initiate an experimental platform for using cryptocurrencies in international settlements starting from September 1, 2024. This was reported by Interfax. During the experiment, the regulator must coordinate several steps with Rosfinmonitoring, the FSB, and the Ministry of Finance. The […]

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ForkLog 21 12.04.2024

Russia to Establish Bitcoin Miners Registry

A key aspect of the legislative regulation of mining will be the introduction of a cryptocurrency miners registry. This was announced by Anton Gorelkin, Deputy Chairman of the State Duma Committee on Information Policy, Information Technology, and Communications, on his Telegram channel. The registry will be maintained by an authorized government body, with the Ministry […]

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ForkLog 20 18.03.2024

Russia to Develop Platform for Seized Cryptocurrencies

Russia’s Interior Minister Vladimir Kolokoltsev has instructed the Ministry of Finance to establish a state digital platform for storing seized cryptocurrencies, as reported by Izvestia. The Ministry of Internal Affairs’ press service noted that the Ministry of Finance initiated this proposal during last year’s government commission meeting on enhancing the effectiveness of combating internet-related offenses. […]

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ForkLog 11 09.11.2023

Head of the Bank of Russia backs cross-border Bitcoin payments

The Bank of Russia and the Finance Ministry have aligned on cryptocurrency regulation in the country.

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ForkLog 10 02.11.2023

Duma to consider mining-related bill

In November, the State Duma will review a number of bills regulating cryptocurrencies, including mining and taxation.

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ForkLog 20 31.10.2023

Russian banks begin testing tracking of Bitcoin transactions

The Russian authorities are working on implementing a technology to analyse citizens' transaction activity within the country.

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#Bitcoin Regulation in Russia