Russia's regulation bill is reportedly ready and it will set up rules for investors, miners, and trading venues.
Months passed by, and institutions struggled to reach a consensus. It is also safe to assume that the government’s focus must have switched primarily to the ongoing military conflict, leaving the question of the crypto regulation unsolved., though, Russia’s Ministry of Finance has formulated the final outlook of the legislation.
Only Russian-based enterprises can apply for the role of digital asset operators. Foreign organizations will have to obtain a license to operate in the Russian Federation and form a subsidiary. In its most recent bill, the Finance Ministry said miners will have to submit their application in a relevant register as the government will provide the necessary data centers for that. Taxation will be set separately:
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