Home » Russia’s crypto mining bill could be finalized in January 2023

Russia’s crypto mining bill could be finalized in January 2023

by admin

Russia’s cryptocurrency mining bill, which legalizes cryptocurrency mining and the sale of mined cryptocurrencies, could be approved by January. report According to local news agency Tass, Dec. 23.

of Specification Introduced in the House of Commons on November 17, 2022. Be expected The bill will pass all three legislative readings in December.

Aksakov said the bill’s passage was delayed because critics believed it could create a gateway for capital flight from Russia.

“…according to critics of the bill, it could create a channel for capital flight from our country. Escape.

Aksakov acknowledged that concerns about the risk of capital flight are legitimate and will work with critics to amend the bill.

If the Russian cryptocurrency mining bill is passed, Russians will be able to legally mine cryptocurrencies. Additionally, the bill would allow cryptocurrencies mined by Russian miners to be sold on foreign platforms.

According to Interfax report On Nov. 18, the law will also allow Russian miners to sell domestically mined crypto under an “experimental legal regime.”cryptocurrency payment forbidden domestically in July.

It should be noted that earlier this month the Central Bank of the Russian Federation said it conceptually supported the bill. However, currency officials are against allowing Russians to sell domestically mined crypto, Interfax said. report December 7th. According to the central bank, miners should only be allowed to sell mined cryptocurrencies to foreign exchange and non-residents.

Despite the delay, Aksakov is optimistic that the mining bill could be amended to adequately address critics’ concerns and be ready for approval in January 2023. , the passage of the bill may be further postponed.

Russia in September draft framework Allow cryptocurrencies to be used for cross-border transactions. December 19, TASS report The Central Bank of Russia plans to test the use of crypto to settle international transactions within the framework of a regulatory sandbox.

Related Posts

Leave a Comment