Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported – Mining Bitcoin News

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Russia’s central bank supports the latest bill to regulate crypto mining.

However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal regimes in Russia, as an exception.The Central Bank of the Russian Federation “conceptually supports” the draft law seeking to legalize the crypto mining sector, but at the same time maintains that the digital currencies obtained in the process should be mostly sold on foreign exchanges and only to non-residents.

We allow the possibility of lifting such restrictions within the framework of experimental legal regimes, provided that transactions with cryptocurrencies are made through an authorized organization. The draft offers miners the two options for the sale of the minted coins referenced by the Bank of Russia. In either case, the Federal Tax Service should be notified about the transactions.

 

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