The State Duma is again considering a bill on mining. What's new?

  • 11:14 Nov 18, 2022
The State Duma is again considering a bill on mining. What's new?

It is not the first time that regulators are trying to find a compromise and solve the issue of controlling the sphere of mining and cryptocurrencies in general.

Now the authors of the bill are 16 deputies. Among them are Anatoly Aksakov, Alexei Gordeev, and Anton Gorelkin. They submitted a draft law on mining to the Duma and noted in an explanatory note that the requirements for the work of miners are planned to be established in coordination with the Central Bank. It is necessary to appoint a special executive body for control.

The document noted the following:

  • the sale of digital currency, which is got through mining is not possible within the information infrastructure of Russia
  • the sale of digital currencies at sites abroad is not subject to exchange control
  • creation of an experimental ecosystem to work with digital assets within the country, subject to legal norms
  • prohibition of advertising and other offers of digital currencies

The draft's authors are confident that these measures will allow the legal mining of cryptocurrency, declaring income, and paying taxes. The law in three readings will be adopted in December and will take effect on February 1, 2023. Deputies, who sent the document for consideration, are sure that they took into account all the requirements of the Central Bank, so the innovations will not threaten the ruble.

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