Cryptocurrencies Enter the Wheel of the Russian Economy

Russian President Vladimir Putin signed a law today, Thursday, regarding cryptocurrency mining, including "Bitcoin," in Russia, with the new law set to take effect starting November. The president also signed another law that allows the use of cryptocurrencies in foreign trade and transactions, with the Central Bank of Russia designated to regulate these activities. Documents regarding these two laws were published on the official portal of the Russian government today. The document outlines the procedures and conditions for cryptocurrency mining in Russia, allowing legal entities and individual entrepreneurs registered with the Russian Ministry of Digital Development to engage in mining activities. A few days ago, the Federation Council of Russia and previously the State Duma approved a draft law concerning cryptocurrency mining in Russia. Russia is working, like other countries, to provide the necessary infrastructure for cryptocurrency mining and to launch platforms and tools for the use of digital currencies. In July, President Putin signed a law on the introduction of a digital ruble in the country and the launch of an electronic platform for the Russian digital currency.