Russia will implement cryptocurrency restrictions, exempting miners and central bank projects. From September 1, Russia will impose strict restrictions on the circulation of cryptoassets such as bitcoin. Only digital financial assets are allowed to be issued within its jurisdiction.
Anatoly Aksakov, chairperson of the State Duma's financial marekt committee, led the move. It is part of a broader effort by the government to take control of the crypto ecosystem amid heightened geopolitical tensions. Aksakov said the upcoming legislation is aimed at restricting non-Russian cryptocurrency businesses in order to strengthen the ruble's dominance.
At the same time, recent reports suggest that Russian entities have used cryptocurrencies, particularly Tether's USDT, to procure key components of military technology.
Russia will implement strict restrictions on the circulation of cryptoassets such as bitcoin from September 1
2024-04-29 09:12:25
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