Russia signs regulated cryptocurrency-mining law
President Vladimir Putin signs legislation legalizing and regulating cryptocurrency mining under defined registration and reporting rules.
On August 8, 2024, Russia signs regulated cryptocurrency-mining law. President Vladimir Putin signs legislation legalizing and regulating cryptocurrency mining under defined registration and reporting rules.
The law legalized and regulated cryptocurrency mining under specified conditions. In practice Bitcoin was the central proof-of-work asset implicated by Russia's industrial mining sector.
The event marks a change in the legal environment around Bitcoin access, custody, mining, reporting or financial products, with consequences determined by the specific jurisdiction and stage of the action.