Second Russian Crypto Mining Law Signed by Putin as Nation Readies to Impose Taxes on Miners

Putin has signed a second law in Russia regarding crypto mining, which is aimed at taxing miners. The new law will transfer control of a crypto mining registry to the country’s tax body, the Federal Tax Service (FTS). This registry will monitor industrial crypto miners and their currency and crypto sale orders. The law also gives government agencies and investigative bodies access to transaction data. Additionally, it allows individual regions to issue temporary local bans on crypto mining. The new law is seen as a step towards legitimizing the industry and boosting the Treasury’s revenue. It is also expected to create new IT jobs and help combat illegal mining activities. This move comes after the first crypto mining legalization law was signed in August, and Russian regions are now planning to build crypto mining centers in various parts of the country.