{"id":3279,"date":"2022-04-10T21:03:50","date_gmt":"2022-04-10T21:03:50","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=3279"},"modified":"2022-04-10T21:03:51","modified_gmt":"2022-04-10T21:03:51","slug":"russian-finance-ministry-amends-bill-on-digital-currency-adds-crypto-mining-provisions","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=3279","title":{"rendered":"Russian Finance Ministry Amends Bill \u2018On Digital Currency,\u2019 Adds Crypto Mining Provisions"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>The Ministry of Finance of the Russian Federation has revised a draft law designed to regulate the country\u2019s crypto space, introducing provisions for cryptocurrency mining. The bill has been resubmitted to the government and may be adopted during the parliament\u2019s spring session. <\/strong><\/p>\n<h2>Updated Law \u2018On Digital Currency\u2019 Filed With Russian Government<\/h2>\n<p>Russia\u2019s Ministry of Finance has amended a bill intended to implement comprehensive rules for the Russian cryptocurrency sector. The latest version now takes into account the positions announced by other government institutions on the matter, the department announced Friday.<\/p>\n<p>The finalized draft law \u201cOn Digital currency\u201d has been returned to the cabinet of ministers in Moscow. The legislation, which was initially submitted to the federal government in February, aims to regulate crypto transactions in Russia as well as the activities of crypto market players. It was prepared to fill the regulatory gaps left after the adoption of the law \u201cOn Digital Financial Assets.\u201d<\/p>\n<p>According to a recent statement by Anatoly Aksakov, chair of the Financial Market Committee at the lower house of Russian parliament, the new law is likely to be adopted during the State Duma\u2019s spring session, along with amendments to the Russian Tax Code pertaining to cryptocurrency operations.<\/p>\n<p>Certain provisions in the bill have been clarified, the Finance Ministry said, including those related to the regulation of crypto mining. While the use of bitcoin in payments has been met with opposition, most notably from the Central Bank of Russia and most recently from Prime Minister Mikhail Mishustin, many Russian officials have backed the idea to recognize mining as an economic activity.<\/p>\n<p>In January, the Bank of Russia pushed for \u0430 blanket ban on a range of crypto-related activities, including mining but the Russian government has sided with Minfin\u2019s view that the industry needs to be regulated rather than restricted. President Vladimir Putin asked them to resolve their differences and emphasized on Russia\u2019s potential as a mining destination.<\/p>\n<p>In February, the Ministry of Economic Development proposed to authorize the extraction of digital currencies in regions with power surplus and to offer miners acceptable electricity rates. In late March, the Ministry of Energy called for urgent legalization of mining and introduction of regional energy quotas for bitcoin farms. This week, the Ministry of Industry and Trade and the Ministry of Construction, Housing and Utilities suggested the implementation of an experimental legal regime for mining.<\/p>\n<p>Tags in this story<\/p>\n<p>bill, Bitcoin mining, Crypto, crypto mining, Cryptocurrencies, Cryptocurrency, cryptocurrency mining, Digital Currencies, Digital Currency, draft law, finance ministry, Law, mining, Regulation, Regulations, Russia, russian<\/p>\n<p><em><strong>Do you expect Russia to quickly adopt the new law \u201cOn Digital Currency?\u201d Let us know in the comments section below. <\/strong><\/em><\/p>\n<p>Lubomir Tassev <\/p>\n<p class=\"article__body__author__info__about\">\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/russian-finance-ministry-amends-bill-on-digital-currency-adds-crypto-mining-provisions\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Finance of the Russian Federation has revised a draft law designed to regulate the country\u2019s crypto space, introducing provisions for cryptocurrency mining. The bill has been resubmitted to the government and may be adopted during the parliament\u2019s spring session. Updated Law \u2018On Digital Currency\u2019 Filed With Russian Government Russia\u2019s Ministry of Finance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-3279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3279"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3279\/revisions"}],"predecessor-version":[{"id":3281,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3279\/revisions\/3281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/3280"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}