Russia Enacts New Law to Expand State Control Over Cryptocurrency and Bitcoin Mining

Oct 27, 2024, 10:26 AM

The Russian government has enacted a new law signed by President Vladimir Putin on October 27, 2024, aimed at expanding state control over the cryptocurrency sector. The legislation includes measures to strengthen supervision of Bitcoin mining activities, giving the government the power to halt mining pool operations. Additionally, the law regulates digital currency turnover and amplifies state control by enabling regional restrictions, tighter infrastructure regulations, and enhanced transaction monitoring.