Tax Authority Slated to Become Main Crypto Regulator in Russia

May 17, 2023 Bitcoin.com

Aksakov

Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and Transactions to Their Tax Service […]

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Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says

May 14, 2023 Bitcoin.com

Aksakov

Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature to Vote on Crypto Laws by End of July The State Duma, the lower house of […]

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Lawmakers to Resubmit Russia’s Crypto Mining Bill, Introduce Liability for ‘Gray’ Miners

February 26, 2023 Bitcoin.com

Aksakov

The draft law legalizing cryptocurrency mining will be resubmitted to Russian parliament which will postpone its adoption, one of its sponsors announced. Members of the lower house are also working on a separate bill that will introduce liability for those who mint digital coins illegally. Adoption of Russian Crypto Mining Legislation Postponed Again A bill […]

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Russia Expects Sizable Increase in Crypto Miners’ Share of Power Usage

December 8, 2022 Bitcoin.com

$POWER

The crypto mining industry may see a two-fold increase in its share of Russia’s power consumption in 2022, according to a high-ranking official from the Ministry of Energy. The department supports a bill designed to regulate the sector which is likely to be adopted this year. Russian Energy Ministry Forecasts Rise in Crypto Mining’s Electricity […]

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Latest EU Sanctions Expected to Stimulate Russia’s Own Crypto Market, Exchanges Maintain Services

October 8, 2022 Bitcoin.com

Aksakov

The new crypto sanctions imposed by the European Union are likely to spur the development of the country’s digital asset market, according to a Russian lawmaker. Anatoly Aksakov, who chairs the parliamentary Financial Market Committee, believes Russians will manage to bypass the restrictions. Meanwhile, major exchanges have reportedly informed Russian users that trading continues. Russians […]

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Russia Said to Allow Crypto Mining in Regions With Hydroelectric and Nuclear Power

September 29, 2022 Bitcoin.com

Aksakov

Cryptocurrency mining should be allowed in areas with excess energy and prohibited in those that experience deficits, according to Russian officials preparing to legalize it. An expert from the crypto industry has recently marked the regions where Moscow is likely to authorize mining and the ones where it will probably ban the extraction of digital […]

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Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon

September 22, 2022 Bitcoin.com

Aksakov

Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial Authorities Reach Consensus on How to Regulate Mining of Digital […]

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Top Russian Lawmaker Joins Calls for Legalizing International Crypto Payments

September 9, 2022 Bitcoin.com

Aksakov

A high-ranking member of the Russian parliament has urged for the adoption of a relevant legal framework to properly regulate cross-border crypto payments. His proposal comes after key regulators in Moscow said that Russia needs to allow the use of cryptocurrencies in foreign trade, now that it’s having to deal with serious financial restrictions. Financial […]

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Proposal to Set Up Russian Crypto Exchange Circulated in Moscow

July 8, 2022 Bitcoin.com

Aksakov

Russia may establish a dedicated exchange to carry out cryptocurrency transactions locally, a high-ranking member of the State Duma has suggested. The new platform can be hosted by the Moscow Exchange, according to Anatoly Aksakov, head of the parliamentary financial market committee. Russian Authorities Mull Creating Domestic Cryptocurrency Exchange A crypto trading platform may be […]

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Bill Imposing Fines for Illegal Issuance and Exchange of Digital Assets Proposed in Russia

June 24, 2022 Bitcoin.com

Aksakov

A bill introducing financial penalties for those who illegally issue or exchange digital financial assets has been filed in the Russian parliament. The legislation has been submitted by the sponsor of another draft law banning their use as a means of payment. New Bill Targets Russian Platforms Issuing and Trading Digital Currencies Outside Law Persons […]

Aksakov

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