Russia: soon a green light granted to mining and international crypto-payments

Good bitcoins from Russia – We were just talking about it just yesterday: the legalization of cryptocurrency payments fast approaching Russia. We now know a little more. It appears that two laws – one for international crypto payments and the other for the crypto-mining – will be presented to the Duma to formalize the adoption of cryptocurrencies on Russian soil.

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International trade with Russia soon settled in Bitcoin?

If the Central Bank of Russia was very hostile to crypto-assets in early 2022, the Ministry of Finance knew how to do to him change one’s mind. Indeed, the bankers and the Russian government would have arrived at a agreement on two laws aimed at legalizing Bitcoin (BTC) and cryptocurrencies.

According to a publication of the local media Kommersant, the Russian Deputy Minister of Finance, Alexei Moiseevthe law on crypto payments is now sufficiently advanced and detailed to move on to its next validation step:

“Now we have a bill for this sector, which has already been agreed with the Central Bank as a whole. (…) It generally describes how to acquire cryptocurrencies, what one can do with them and how one can or cannot use them to make cross-border payments. »

Russian regulations seem to be more open to cryptos

Crypto-mining, far from being banned, will be officially recognized

In the USA, Joe Biden promises to “eliminate” Bitcoin and the proof of work (PoW) if they do not become “green enough”. In the European Union, even promises of banishment for crypto-mining, there also for “ecological reasons”.

From russian sidemining activities will soon be recognized by a specific law. Anatoly AksakovChairman of the Parliamentary Committee on Financial Markets, confirmed that, here too, the Central Bank and the Ministry of Finance ended up tuning their violins on a law Project. This new legislation will soon be submitted to the Russian equivalent of the National Assembly, ie the State Duma.

“In the near future, the bill will appear in the State Duma. We will work to get it through as quickly as possible. »

Anatoly Aksakov

Given theabundance of energy resources on Russian soil (gas, oil, hydroelectric dams, etc.), the mining of bitcoins is very profitable in regions with such power generation opportunities. In addition to international crypto mining and trading, Russia is also very interested in stablecoinsespecially if they are backed by physical gold.

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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