News with the tag "Russia Crypto Mining"

Recent reports revealed that Russian companies have begun using Bitcoin and other digital assets in international trade to bypass sanctions. The country’s Finance Minister also shared the government’s plan to expand its crypto use as an alternative for international payment. Russian Companies Use Bi...

Russia is shifting its focus towards Bitcoin and other cryptocurrencies recently, Finance Minister Anton Siluanov confirmed. According to his recent statement, the Russian firms are already using BTC and other digital currencies for foreign trade after recent legislative changes. Notably, this comes...

According to local reports, the Russian government will ban crypto mining activities in ten key regions following the recent enactment of the new industry-related laws. It will also implement seasonal bans on other territories and potentially add more areas to the list amid the ongoing electrical cr...

In a recent development, Russia has imposed a ban on crypto mining in six regions from January 1, 2025. Notably, the restrictions will be imposed on the regions for six years and will be in effect till March 15, 2031. This development also comes just after Russian lawmakers proposed creating a Bitco...

In a major move towards successfully regulating digital assets in the country, Russian President Vladimir Putin has signed a law that creates a new legal framework for taxing Bitcoin mining and transactions, recognizing them as property and setting the stage for formal taxation. Russia’s New Bitcoin...

Russian President Vladimir Putin has signed the final law on crypto taxation while recognizing digital assets as property. This taxation law will also be applicable for currencies used for foreign trade settlements “within the framework of the experimental legal regime (ELR).” Russian President Puti...

Russian President Vladimir Putin has approved new measures to restrict cryptocurrency mining in several regions to address energy supply concerns. These restrictions are part of Russia’s broader efforts to regulate the industry while conserving electricity during peak winter months. Russia Crypto Mi...

Russia has been steadily moving towards full regulation of its crypto mining industry, as government officials and industry leaders met at the first forum of the Industrial Mining Association (IMA) in Moscow. The event, which happened on October 14, involved 70% of Russia’s crypto mining farms, show...

Amid the new legislation for crypto mining in Russia, local authorities have uncovered illegal crypto mining farms in the southern Republic of Dagestan. The regional prime minister urged law enforcement to increase their efforts to tackle unlawful mining operations as the region struggles with elect...

According to a recent report, Russia’s Duma has approved a bill to legalize Bitcoin mining and crypto payments. This move, passed in the first reading, sets the stage for a regulated digital currency mining industry. The bill aims to curb illegal activities, attract investments, and create jobs, mar...