{"id":816840,"date":"2025-01-03T07:24:07","date_gmt":"2025-01-03T13:24:07","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/03\/russia-enacts-control-measure-on-bitcoin-mining-operations\/"},"modified":"2025-01-03T07:24:07","modified_gmt":"2025-01-03T13:24:07","slug":"russia-enacts-control-measure-on-bitcoin-mining-operations","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/03\/russia-enacts-control-measure-on-bitcoin-mining-operations\/","title":{"rendered":"Russia enacts control measure on Bitcoin mining operations"},"content":{"rendered":"<p>Bitcoins <\/p>\n<div data-id=\"152201\" data-url=\"https:\/\/cryptobriefing.com\/russian-digital-law-mining\/\">\n<section>\n<div>\n<p><a href=\"https:\/\/cryptobriefing.com\/markets\/\" rel=\"tag\"><br \/>\n                    Markets                <\/a>\n                    <\/p>\n<\/div>\n<p><span><span><a href=\"https:\/\/cryptobriefing.com\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/cryptobriefing.com\/markets\/\">Markets<\/a><\/span> \u00bb <span aria-current=\"page\">Russia enacts control measure on Bitcoin mining operations<\/span><\/span>        <\/p>\n<div>\n<div>\n<p><span>by<\/span><\/p>\n<div>\n<p><a data-author_id=\"29816\" href=\"https:\/\/cryptobriefing.com\/team\/vivian-nguyen\/\" rel=\"author\">Vivian Nguyen<\/a><\/p>\n<\/div><\/div>\n<p><time datetime=\"2024-10-27T05:17:45+00:00\"><br \/>\n                        Oct. 27, 2024                    <\/time>\n                            <\/p>\n<\/p><\/div>\n<\/section>\n<section>\n<h2>Bitcoins New law expands government control over digital currency operations.<\/h2>\n<\/section>\n<section>\n            <picture><source media=\"(min-width: 850px)\" ><img decoding=\"async\" fetchpriority=\"high\" src=\"http:\/\/cryptobriefing.com\/Untitled-design-2.jpg\" alt=\"bitcoins Russia enacts new law to regulate Bitcoin mining activities\" title=\"bitcoins http:\/\/cryptobriefing.com\/Untitled-design-2.jpg\">\n            <\/picture>\n        <\/section>\n<section>\n<section>\n<h3>Key Takeaways<\/h3>\n<ul>\n<li>The new Russian law allows the government to ban digital currency mining in specific areas.<\/li>\n<li>Federal agencies now have access to digital currency identifier addresses.<\/li>\n<\/ul>\n<\/section>\n<section>\n<p>Share this article<\/p>\n<\/section>\n<p>        <?xml encoding=\"UTF-8\"><\/p>\n<p>The Russian government has enacted a new law regulating digital currency turnover, aiming to control Bitcoin and crypto mining activities, Russian news agency TASS <a target=\"_blank\" href=\"https:\/\/tass.com\/economy\/1862591\" rel=\"noopener nofollow noreferrer\">reported<\/a> Saturday.<\/p>\n<p>Set to take effect on November 1, the legislation enables the Russian government to ban digital currency mining in designated regions or territories. It also outlines the conditions under which such bans can be implemented.<\/p>\n<p>Under the new regulations, the government can regulate the activities of mining infrastructure operators, a shift from previous obligations to a now formalized right, the report stated.<\/p>\n<p>The law also broadens the scope of entities that can access digital currency identifier addresses. Previously limited to the Federal Financial Monitoring Service, now all federal executive bodies, including inquiry and investigative agencies, have this capability.<\/p>\n<p>The new law permits individuals to mine without registration if they stay within specific electricity usage limits, whereas businesses must be registered to mine legally.<\/p>\n<p>The Federal Tax Service will oversee the miner\u2019s register, which was formerly managed by the Ministry of Digital Development. For repeated infractions within a year, the Federal Tax Service can remove companies from the miner\u2019s register, prohibiting them from providing services to unregistered or deregistered entities.<\/p>\n<p>The latest development comes after <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/russia-crypto-mining-legalization\/\" rel=\"\">Russia legalized crypto mining<\/a> earlier this year. The law allows Russian legal corporations to participate in large-scale crypto mining activities. Individuals can also mine without registering if they adhere to specific electricity consumption limits.<\/p>\n<p>The Russian government is ramping up efforts to capitalize on the digital asset economy. Several developments have been made over the past few months to establish a regulatory framework for crypto mining and an experimental regime for cross-border crypto settlements and trading.<\/p>\n<p><html><body><\/p>\n<div class=\"ad-banner mrec-in-article\"><\/div>\n<p><\/body><\/html><\/p>\n<p>In late August, <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/russia-crypto-trials-september\/\" rel=\"\">Moscow initiated tests to use crypto<\/a> for international payments, regulated by the Bank of Russia, to lessen sanctions\u2019 impact.<\/p>\n<p>Putin recently <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/brics-digital-currencies-discussion\/\" rel=\"\">confirmed<\/a> that the BRICS group, which includes Russia, will explore the use of digital currencies for investment. Members of the group aspire to<a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/brics-bitcoin-strategy-summit\/\" rel=\"\"> reduce their reliance on the US dollar<\/a>. Digital currencies can help them achieve that goal while also benefiting developing economies and their member countries.<\/p>\n<\/p>\n<section class=\"article-share\">\n<p>Share this article<\/p>\n<div class=\"social-icons\">\n          <button class=\"social-icon share\" data-href=\"https:\/\/x.com\/intent\/tweet?text=Russia+enacts+control+measure+on+Bitcoin+mining+operations&#038;url=https%3A%2F%2Fcryptobriefing.com%2Frussian-digital-law-mining%2F&#038;via=crypto_briefing\" aria-label=\"Share on x\"><br \/>\n        <?xml version=\"1.0\" encoding=\"UTF-8\"?><br \/>\n                <svg width=\"40px\" height=\"40px\" viewBox=\"0 0 40 40\" version=\"1.1\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\">\n                <g id=\"surface1\">\n                <path style=\" stroke:none;fill-rule:nonzero;fill:rgb(0%,0%,0%);fill-opacity:1;\" d=\"M 17.867188 0.148438 C 10.839844 0.878906 4.558594 5.507812 1.707031 12.054688 C -0.132812 16.28125 -0.441406 21.148438 0.867188 25.625 C 2.480469 31.214844 6.652344 35.933594 12.054688 38.292969 C 16.28125 40.132812 21.148438 40.4375 25.628906 39.132812 C 32.332031 37.199219 37.613281 31.695312 39.347656 24.851562 C 42.054688 14.132812 35.414062 3.171875 24.667969 0.613281 C 22.304688 0.0546875 20.226562 -0.09375 17.867188 0.148438 Z M 18.132812 12.535156 C 19.839844 14.800781 21.28125 16.667969 21.332031 16.667969 C 21.386719 16.667969 23.160156 14.800781 25.253906 12.535156 L 29.078125 8.398438 L 31.253906 8.398438 L 30.785156 8.894531 C 30.519531 9.171875 28.785156 11.054688 26.933594 13.066406 C 25.078125 15.078125 23.265625 17.039062 22.90625 17.398438 L 22.265625 18.078125 L 27.265625 24.734375 C 30.011719 28.398438 32.265625 31.441406 32.265625 31.492188 C 32.265625 31.558594 30.628906 31.601562 28.640625 31.601562 L 25 31.585938 L 21.613281 27.054688 C 19.28125 23.921875 18.1875 22.574219 18.078125 22.652344 C 18 22.71875 16.105469 24.761719 13.867188 27.1875 L 9.800781 31.601562 L 8.773438 31.601562 C 8.199219 31.601562 7.734375 31.574219 7.734375 31.535156 C 7.734375 31.492188 9.851562 29.171875 12.441406 26.386719 C 15.011719 23.601562 17.148438 21.265625 17.171875 21.226562 C 17.1875 21.171875 15.066406 18.28125 12.464844 14.800781 C 9.867188 11.332031 7.734375 8.464844 7.734375 8.441406 C 7.734375 8.414062 9.371094 8.398438 11.386719 8.398438 L 15.039062 8.398438 Z M 18.132812 12.535156 \" \/>\n                <path style=\" stroke:none;fill-rule:nonzero;fill:rgb(0%,0%,0%);fill-opacity:1;\" d=\"M 11.027344 10.1875 C 11.082031 10.28125 14.441406 14.785156 18.464844 20.171875 L 25.800781 29.988281 L 27.441406 30 C 28.453125 30 29.066406 29.945312 29.039062 29.867188 C 29.027344 29.800781 25.679688 25.292969 21.628906 19.867188 L 14.238281 10 L 12.585938 10 C 11.214844 10 10.933594 10.027344 11.027344 10.1875 Z M 11.027344 10.1875 \" \/>\n                <\/g>\n                <\/svg>      <\/p>\n<\/section>\n<\/div>\n<p> Vivian Nguyen <a href=\"https:\/\/cryptobriefing.com\/russian-digital-law-mining\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Markets Home \u00bb Markets \u00bb Russia enacts control measure on Bitcoin mining operations by Vivian Nguyen Oct. 27, 2024 New law expands government control over digital currency operations. Key Takeaways The new Russian law allows the government to ban digital currency mining in specific areas. Federal agencies now have access to digital currency identifier addresses.<\/p>\n","protected":false},"author":1,"featured_media":816841,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24792,1768],"tags":[11476],"class_list":["post-816840","post","type-post","status-publish","format-standard","has-post-thumbnail","category-enacts","category-russia","tag-bitcoins"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/816840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=816840"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/816840\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/816841"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=816840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=816840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=816840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}