Russia legalizes crypto mining

Crypto mining is now legal in Russia. President Putin signed a law allowing it. He spoke of "seizing the moment."

Vladimir Putin has signed a law that legalizes crypto mining in Russia.

According to state news agency TASS individuals must officially register for this purpose. However, this obligation expires if the energy limits set by the Russian government are not exceeded.

In principle, the law allows trading in "foreign digital financial assets" on blockchain platforms. However, according to TASS, the Russian central bank can ban issues "if they pose a threat to Russia's financial stability."

Putin had earlier announced the opening of digital currency trading in Russia during a meeting with economic representatives. He spoke of "seizing the moment" to create a legal framework for crypto trading. The law will take effect 10 days after it is signed.