Duma – DIGIT INFO

Russian Parliament Postpones Adoption of Crypto Mining Bill

DIGIT — Sat, 24 Dec 2022 08:30:48 +0000

Russian lawmakers will consider a draft law on cryptocurrency mining in 2023 despite earlier indications they were going to vote on the proposal in December. The bill is expected to set the rules for the extraction and sale of cryptocurrency in Russia amid sanctions limiting the country’s access to global finances and markets. Russia’s New […]

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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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No Tax Amnesty for Russian Crypto Miners as Lawmakers Withdraw Proposal

DIGIT — Thu, 26 May 2022 06:00:34 +0000

A new draft law has replaced an earlier bill introducing a one-year tax and customs amnesty for cryptocurrency miners in Russia. The initial proposal has been withdrawn on the grounds that the tax break would have resulted in losses for the state budget. Revised Crypto Mining Legislation Submitted to Russian Parliament Without Amnesty for Miners […]

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Russian Regulators Find Common Ground — Bitcoin Can’t Be Used for Payments

DIGIT — Sun, 13 Feb 2022 13:30:18 +0000

Russian authorities are yet to reach full consensus on the future of cryptocurrencies but government institutions are on the same side of the fence in their intention to ban bitcoin payments. Other operations with digital assets are to be legalized and regulated, representatives of Russian business have revealed. Russian Central Bank, Finance Ministry Agree to […]

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Crypto Ban in Russia Can Have Opposite Effect, Medvedev Warns as Opposition Mounts Against Proposal

DIGIT — Sun, 30 Jan 2022 20:30:16 +0000

Dmitry Medvedev, former president and prime minister of Russia, has voiced his concerns over Bank of Russia’s initiative to ban most crypto operations. Prohibition could bring the opposite result, the Russian politician warned, joining a chorus of opinions against the restrictive policy. More Officials and Organizations Reject Central Bank’s Call to Prohibit Cryptocurrency Central Bank […]

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Russia to Decide Between Full Ban and Legalization of Crypto Investments, Trade

DIGIT — Fri, 17 Dec 2021 21:00:57 +0000

Authorities in Russia are discussing two very different approaches to the regulation of cryptocurrencies and related activities. While the Bank of Russia is reportedly seeking to introduce a ban on buying crypto assets, lawmakers are moving forward with efforts to adopt rules for mining, exchange, and taxation that would effectively legalize cryptocurrencies. Russian Officials Debate […]

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Russian Parliament Sets Up Working Group on Cryptocurrency Regulations

DIGIT — Fri, 26 Nov 2021 13:00:43 +0000

A working group on cryptocurrencies and related activities will soon begin to meet at the State Duma, the lower house of Russian parliament. Its members are expected to take on the task of clarifying various regulatory aspects related to digital financial assets such as the legalization of mining and the introduction of taxation. Working Group […]

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Digital Ruble Poses Risks to Financial Sector and Security, Russian Lawmakers Warn

DIGIT — Sat, 20 Nov 2021 12:30:04 +0000

Russian parliamentarians have cautioned against risks associated with the introduction of a digital ruble. Among them are the likely increase of competition pressure on banks and new challenges that may arise in the field of information security. Financial Market Committee Sees Threats in Digital Ruble Project Russia’s digital fiat, currently under development, brings certain risks […]

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Russia’s Prosecutor General Wants Cryptocurrency Recognized as Property Under Criminal Law

DIGIT — Thu, 18 Nov 2021 04:30:14 +0000

The Prosecutor General’s Office of Russia has proposed to define cryptocurrency as property in the country’s Criminal Code. Decentralized digital money has already been qualified as such in the provisions of several other laws although various aspects of cryptocurrencies remain unregulated. Prosecutors in Russia Draft Legislation Granting Cryptocurrency Property Status The Prosecutor General’s Office of […]

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Russian Nationalists Prepare Bill to Regulate Cryptocurrency Mining

DIGIT — Sat, 13 Nov 2021 13:00:23 +0000

Lawmakers from the Liberal Democratic Party of Russia are gearing up to introduce a draft law designed to regulate crypto mining. The nationalists say the legislation will benefit both Russian citizens and the state, as well as those who want to get involved in the business legally. Nationalists Propose Regulations for Russian Crypto Miners The […]

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