State Duma deputies allowed cryptocurrency mining

[tanjimajuha20]

Digital Currency and on Amendments to Certain Legislative Acts of the Russian Federation", allowing the use of digital currencies as a means of payment in foreign trade transactions.

The authors of the bill, State Duma deputies Anatoly Aksakov, Arkady Svistunov, Ivan Babich, Sergey Altukhov and Anton Gorelkin, indicated in the explanatory note that the new document will establish an experimental legal regime within which trade operations using digital currency will be carried out. The Central Bank portugal whatsapp resource (CB) will manage and supervise the experimental digital regime in cooperation with the Federal Security Service (FSB) in matters of combating money laundering, countering terrorism, identification using digital financial assets (DFA), cryptocurrency and currency regulation. In matters arising from the circulation of digital currencies, including those related to mining, the CB works together with the Ministry of Finance of the Russian Federation and Rosfinmonitoring. The CB must coordinate with it the regulation of relations between payment agents and entities of the National Payment System. By September 1, 2024, the Central Bank must create a special electronic platform based on the National Payment System, where trades will take place, develop rules for its operation and prepare requirements for its operator.

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The State Duma adopted the bills "On digital financial assets" and "On experimental legal regimes in the sphere of digital innovations in the Russian Federation" in the second and third readings. The new bills allow mining of digital currency and its use for international settlements.

"Special regulation affects relations related to the functions and powers of the Bank of Russia; the decision to establish an experimental legal regime and approve the program of the experimental legal regime is taken by the Government of the Russian Federation in agreement with the Bank of Russia," the authors of the bill wrote in the explanatory note.

According to their plan, the document will lead to "the formation of new types of economic activity, the development of competition, the expansion of the composition, quality or availability of goods, works and services, an increase in profits from entrepreneurial activity and a reduction in the costs of entrepreneurial activity, the improvement of general regulation based on the results of the implementation of the experimental legal regime, the attraction of investments in the development of entrepreneurial activity in the field of digital innovations in the Russian Federation, the creation of favorable conditions for the development and implementation of digital innovations in the financial market."