Russian President Vladimir Putin 🇷🇺 has just signed a new law on digital currency 💰, especially related to cryptocurrency mining activities 🛠️.
This law stipulates that mining activities will be considered part of the "economic cycle" instead of currency issuance. Only businesses and individuals registered with the government are allowed to carry out large-scale cryptocurrency mining 🏢.
For individuals who are not registered, they can still mine but must comply with the energy consumption limits ⚡ set by the government. In addition, this new law also paves the way for trading digital financial assets abroad on Russia's blockchain platforms 🌐, creating conditions for Russia to expand its role in international cryptocurrency transactions 🌍.
The Central Bank of Russia 🏦 also has the right to prohibit digital assets if they threaten the financial stability of the country 🛑.
This move is part of Russia's overall strategy to enhance its participation in the digital economy 📈 and develop the infrastructure for digital currency, while complying with international sanctions and strengthening trade relations with BRICS countries 🌏
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TheThiefCan_tHoldIt
· 2024-08-09 03:13
The Russians exchange Tokens for US dollars. Sounds reasonable. After exporting oil, they exchange it for Tokens locally. Then they exchange Tokens back to Fiat Currency when they return home... Good news is that they're going all in on PetroChina in Favourable Information.
Russian President Vladimir Putin 🇷🇺 has just signed a new law on digital currency 💰, especially related to cryptocurrency mining activities 🛠️.
This law stipulates that mining activities will be considered part of the "economic cycle" instead of currency issuance. Only businesses and individuals registered with the government are allowed to carry out large-scale cryptocurrency mining 🏢.
For individuals who are not registered, they can still mine but must comply with the energy consumption limits ⚡ set by the government. In addition, this new law also paves the way for trading digital financial assets abroad on Russia's blockchain platforms 🌐, creating conditions for Russia to expand its role in international cryptocurrency transactions 🌍.
The Central Bank of Russia 🏦 also has the right to prohibit digital assets if they threaten the financial stability of the country 🛑.
This move is part of Russia's overall strategy to enhance its participation in the digital economy 📈 and develop the infrastructure for digital currency, while complying with international sanctions and strengthening trade relations with BRICS countries 🌏
#BTC #SOLS #ETH