The Russian Federation is preparing to ban the free circulation of cryptocurrency in the country.
The State Duma Committee on the Financial Market approved the final version of the bill on restrictions on the circulation of cryptocurrency in Russia.
If the bill is passed:
Exchanges and exchangers will have to obtain a license from a government agency authorized by the government.
Only companies and individual entrepreneurs that are included in the special government register of “Mining Infrastructure Operators” will be able to sell cryptocurrency.
Any advertising of cryptocurrency trading will be prohibited.
Private individuals will be allowed to engage in mining, but will have to comply with electricity limits set by the government.
All miners will be required to report on all operations (mining, trading) to Rosfinmonitoring.
The first reading is scheduled for July 23.
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