Russia crypto mining ban

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The central bank said it against cryptocurrencies, saying they could countries where crypto exchanges are or to finance terrorism.

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Russia passed its first laws to regulate cryptos in July , which for the first time designated cryptocurrency as property liable to taxation. Russia's central bank proposed a blanket ban on the use and creation of all cryptocurrencies within one of the world's biggest crypto-mining. The European Union imposed a total ban on carrying out cryptocurrency transactions with Russian citizens and anyone resident in the country as.

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But the finance ministry prefers legislation that regulates cryptocurrencies, allowing them as an investment tool, but not as a means of payment. Hong Kong has established a set of comprehensive regulations for the crypto industry and has made it easier for retail investors to engage in digital assets, which has attracted international crypto businesses. See related article: Russia uncovers a crypto mining farm in its oldest prison: report. Published On 20 Jan 20 Jan