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Russia enacts control measure on Bitcoin mining operations

Author: Content Editor
The Russian government has implemented a new law to regulate the turnover of digital currencies, including Bitcoin and crypto mining activities. The law, which takes effect on November 1, grants the government the power to ban mining in specific regions and outlines the conditions for such bans. It also expands the entities that can access digital currency addresses and introduces registration requirements for businesses engaged in mining. The Federal Tax Service will oversee the miner's register and has the authority to remove companies from the register for repeat infractions. This move follows Russia's earlier legalization of crypto mining, and the government's ongoing efforts to establish a regulatory framework for the digital asset economy. The country is also exploring the use of digital currencies for international payments and investment within the BRICS group.

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