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The President of Russia Vladimir Putin has signed a law that legalizes cryptocurrency mining in the country. A relevant document was published on Thursday on the official portal of legal information.

The new law introduced several key concepts, including digital currency mining, mining pools, and mining infrastructure operators, and defined the rights and liabilities of the crypto mining market’s participants.

Сryptocurrency mining will now be recognized as part of turnover rather than the issuance of digital currency.

The new legislation specifies that only Russian legal entities and individual entrepreneurs registered with the government will be allowed to engage in cryptocurrency mining. However, individual miners can participate without registration, provided their energy consumption remains within government-set limits.

Additionally, the law permits the trading of foreign digital financial assets on Russian blockchain platforms.