draft law – DIGIT INFO

Russian Parliament Votes on Bill Opening Door for Digital Ruble

DIGIT — Sat, 18 Mar 2023 07:30:50 +0000

Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the launch of the central bank digital currency. Russian State Duma Passes Digital Ruble Draft Law on First Reading The lower […]

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Lawmakers to Resubmit Russia’s Crypto Mining Bill, Introduce Liability for ‘Gray’ Miners

DIGIT — Sun, 26 Feb 2023 08:00:40 +0000

The draft law legalizing cryptocurrency mining will be resubmitted to Russian parliament which will postpone its adoption, one of its sponsors announced. Members of the lower house are also working on a separate bill that will introduce liability for those who mint digital coins illegally. Adoption of Russian Crypto Mining Legislation Postponed Again A bill […]

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Bill on Digital Ruble Submitted to Russian Parliament

DIGIT — Sun, 01 Jan 2023 07:00:33 +0000

A draft law devoted to the digital ruble has been filed with the State Duma, the lower house of Russian parliament. The legislation introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to facilitate its implementation. Bank of Russia to Be the Sole Operator […]

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Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported

DIGIT — Sat, 10 Dec 2022 11:30:07 +0000

The monetary authority in Moscow has expressed support for the latest legislative attempt to legalize cryptocurrency mining. However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal regimes in Russia, as an exception. Russia’s Central Bank Suggests Restrictions Be Added to Proposed Crypto Mining Law The […]

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Crypto Miners in Kazakhstan to Buy Only Surplus Power, Under Digital Assets Bill

DIGIT — Thu, 08 Dec 2022 07:00:20 +0000

Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities of the industry and the taxation of its profits. Law to Regulate Crypto Mining in Kazakhstan, Change Licensing Rules The lower house of Kazakhstan’s parliament, […]

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Amendments to Russia’s Digital Asset Law Aim to Allow Mining, Ban Crypto Exchange and Ads

DIGIT — Sat, 19 Nov 2022 11:00:27 +0000

Russian lawmakers have proposed changes to the current law “On Digital Financial Assets” in order to regulate crypto mining while banning the circulation of cryptocurrencies in the country. The legislation also prohibits the non-targeted advertising of crypto-related products and services. New Attempt to Legalize Cryptocurrency Mining in Russia After months of deliberations, efforts continue in […]

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Indonesia to Change Crypto Regulators as Part of Plan for Stricter Oversight

DIGIT — Fri, 11 Nov 2022 10:30:33 +0000

The government of Indonesia wants to assign crypto supervision to the Asian nation’s financial watchdog in order to ensure better protection for investors. The move is part of a planned overhaul of regulations in the sector aimed at increasing oversight of the expanding digital assets market. Indonesia Mulls Over New Financial Legislation Designed to Tighten […]

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Russia Plans to Allow Mining of Any Cryptocurrency, Lawmaker Unveils

DIGIT — Wed, 02 Nov 2022 18:30:08 +0000

Newly proposed legislation aims to permit the minting of any cryptocurrency in Russia, a prominent lawmaker has revealed. While the draft law states that the circulation of the minted coins should take place outside Russian jurisdiction, an upcoming bill provides for their use under “experimental regimes.” Parliament Prepares to Legalize the Mining of Cryptocurrencies in […]

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New Mining Bill Permitting Cross-Border Crypto Payments Filed in Russian Parliament

DIGIT — Sat, 29 Oct 2022 18:00:29 +0000

A draft law designed to regulate the mining of digital coins in Russia is also legalizing the use of cryptocurrencies in international settlements. It has been submitted to the Russian parliament after the rejection of an earlier bill which was aiming to allow domestic crypto payments as well. Draft Legislation on Crypto Mining Allows Russian […]

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Russian Parliament Rejects Mining Bill Allowing Crypto Payments, Expects New Draft

DIGIT — Mon, 24 Oct 2022 09:30:39 +0000

The lower house of Russian parliament, the State Duma, has voted against a piece of legislation designed to regulate cryptocurrency mining. While lawmakers turned down that proposal, which also aimed to legalize crypto payments in the country, another draft law on mining, which permits cross-border transactions with digital assets, is expected in the legislature in […]

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