Summary:
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New Legislation Enacted
Russia has published a new law aimed at enhancing state control over cryptocurrency mining and digital assets, effective November 1. -
Expanded Oversight
The law grants various federal agencies access to digital currency identifier addresses, improving the ability to monitor and regulate cryptocurrency activities. -
Mining Restrictions
Provisions allow the government to impose restrictions on mining operations based on regional requirements and to shut down mining pools in specific locations. -
Regulatory Responsibilities Shift
The responsibility for the national mining register has transferred from the Ministry of Digital Development to the Federal Tax Service, which will manage mining registrations and penalize violators. -
Compliance for Businesses
While individual miners may operate without registration under certain conditions, companies and entrepreneurs must meet new compliance requirements to continue their operations.
Read more at: Bitcoin.com
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