Russian President Vladimir Putin has signed a new law that legitimizes cryptocurrency mining within the country, as reported by the Russian news agency TASS. This groundbreaking legislation recognizes various aspects of the digital currency industry, including mining pools and infrastructure operations, and frames mining as part of economic activity rather than currency creation. It specifies that mining can be conducted by registered Russian businesses and individual entrepreneurs, with provisions for unregistered individuals if they stay within set energy limits.

Emphasizing the importance of this development, President Putin remarked on the need for Russia to leverage this opportunity to enhance its economic landscape through regulated and well-supported digital currency initiatives. The law also allows for trading foreign digital assets on Russian platforms, although the Bank of Russia maintains oversight to prevent potential threats to financial stability. The regulations are set to be enforced ten days after publication, ushering a new era of digital finance in Russia.

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