Russian Parliament Rejects Mining Bill Allowing Crypto Payments, Expects New Draft
The lower house of Russian parliament, the State Duma, has voted against a piece of legislation designed to regulate cryptocurrency mining . While lawmakers turned down that proposal, which also aimed to legalize crypto payments in the country, another draft law on mining, which permits cross-border transactions with digital assets , is expected in the legislature in the near future. Alternative Proposals to Regulate Crypto Mining Clash in Russian Parliament This week, the State Duma of the Russian Federal Assembly voted to reject a draft law on cryptocurrency mining . The bill “On Mining in the Russian Federation,” was submitted earlier by members of the liberal New People faction. Lawmakers criticized the sponsors for failing to properly formulate regulatory principles for the activity as well as requirements for data centers and mining operators and suggest a procedure for the taxation of mining companies. Representatives of the parliamentary committees that reviewed the legisla...