Legalization of mining in Russia
#加密金融致富之路 Polar Bear's Turn:
Russia's legalization of mining is expected to reshape the global crypto market. But starting on August 8, the crypto market seemed to have an overnight spring momentum, with cryptocurrencies surging. On the morning of August 9, Bitcoin even reached $62394.50, up 25.33% from its low of $49781.93. For this reason, a major factor in the crypto market rebound has a close and inseparable relationship with Russia's newly adopted mining legalization policy. On August 8, 2024, Russian President Putin signed a law legalizing cryptocurrency mining in Russia. The signed law introduces new concepts including digital currency mining, mining pools, mining infrastructure operators, address identifiers, and individuals who organize mining pool activities. Mining itself is considered a component of revenue, not the issuance of digital currency.
Only Russian legal entities and individual entrepreneurs registered in the register have the right to conduct mining. Individuals who do not exceed the energy consumption limits prescribed by the Russian government do not need to register in the register to conduct digital currency mining.
Russia's legalization of mining is expected to reshape the global crypto market. But starting on August 8, the crypto market seemed to have an overnight spring momentum, with cryptocurrencies surging. On the morning of August 9, Bitcoin even reached $62394.50, up 25.33% from its low of $49781.93. For this reason, a major factor in the crypto market rebound has a close and inseparable relationship with Russia's newly adopted mining legalization policy. On August 8, 2024, Russian President Putin signed a law legalizing cryptocurrency mining in Russia. The signed law introduces new concepts including digital currency mining, mining pools, mining infrastructure operators, address identifiers, and individuals who organize mining pool activities. Mining itself is considered a component of revenue, not the issuance of digital currency.
Only Russian legal entities and individual entrepreneurs registered in the register have the right to conduct mining. Individuals who do not exceed the energy consumption limits prescribed by the Russian government do not need to register in the register to conduct digital currency mining.
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