The State Duma adopted the mining bill in the first reading

Key Provisions of the Bill:

• Right to Engage in Mining:
  • Only Russian legal entities and individual entrepreneurs included in a special registry will be allowed to engage in mining.
• Right to Trade Mined Cryptocurrencies:
  • Only registered miners will have the right to conduct transactions with mined cryptocurrencies.
• Control Over Cryptocurrency Circulation:
  • The circulation of cryptocurrencies in the Russian Federation will be controlled by the FSB (Federal Security Service) and Rosfinmonitoring.
• Compliance with Anti-Money Laundering Legislation:
  • Miners are required to comply with anti-money laundering regulations.

Additional Legislation:

• Separately, the State Duma has passed a law in its third reading that requires miners to report to Rosfinmonitoring. This document is not related to the main bill on mining regulation, which could not be reviewed by July 23.