The Committee of the upper house of the Russian parliament on budget and financial markets supported the bill on legalizing cryptocurrency mining activities in the Russian Federation. This is what he writes TASS.
According to the agency, senators from the relevant committee recommended that the Federation Council approve the initiative. The document is expected to be discussed at the plenary session on August 2.
A bill to legalize cryptocurrency mining in the country was submitted to the State Duma of the Russian Federation in November 2022. The document was developed by a group of deputies led by the head of the lower house of the Russian parliament’s financial market committee, Anatoly Aksakov. At the same time, the initiative was supposed to be amended.
State Duma of the Russian Federation, July 30, 2024 accepted this law is in the second and third readings. From the document it follows that Russian legal entities and a number of individual entrepreneurs received the right to mine cryptocurrencies. Mining was also allowed to persons who did not exceed the electricity consumption limits set by the Cabinet of Ministers.
Previously in Russia offered use organic waste for cryptocurrency mining.