Russia enacts control measure on Bitcoin mining operations

The Russian government has enacted a new law regulating digital currency turnover, aiming to control Bitcoin and crypto mining activities, Russian news agency TASS reported Saturday.

Set to take effect on November 1, the legislation enables the Russian government to ban digital currency mining in designated regions or territories. It also outlines the conditions under which such bans can be implemented.

Under the new regulations, the government can regulate the activities of mining infrastructure operators, a shift from previous obligations to a now formalized right, the report stated.

The law also broadens the scope of entities that can access digital currency identifier addresses. Previously limited to the Federal Financial Monitoring Service, now all federal executive bodies, including inquiry and investigative agencies, have this capability.