Major

<p>The Russian president Vladimir Putin recently signed a major law regarding cryptocurrencies, marking an important step in the regulation of digital assets in Russia. This new legislation officially recognizes cryptos as property and allows their use in foreign commercial payments.</p>
<h2 id="h-russia-adopts-a-law-on-the-use-of-cryptos">Russia adopts a law on the use of cryptos!</h2>
<p>This law, adopted by the State Duma and approved by the Federation Council, aims to create a clear regulatory framework for digital assets in Russia. By recognizing cryptos as property, Russia paves the way for a broader use of these assets in <a href="https://www.cointribune.com/en/russia-legalizes-international-payments-in-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">international commercial transactions</a>. This could potentially strengthen Russia’s position in the global cryptocurrency market and attract more investments into the sector.</p>
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<p>Furthermore, the exemption from VAT for mining and the sale of cryptocurrencies is a particularly significant measure. Crypto mining, which involves using powerful computers to solve complex mathematical problems and validate transactions on the blockchain, is <a href="https://www.cointribune.com/consommation-electrique-du-minage-de-crypto-dossier-complet/" target="_blank" rel="noopener noreferrer nofollow">an energy-intensive and costly activity</a>. By removing VAT, Russia makes this activity more profitable for miners, which could encourage more individuals and businesses to get into cryptocurrency mining.</p>
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<h2 id="h-a-boon-for-russian-businesses">A boon for Russian businesses</h2>
<p><a href="http://publication.pravo.gov.ru/document/0001202411290004?index=19" target="_blank" rel="noopener noreferrer nofollow">This law</a> could have significant implications for Russian businesses that use cryptocurrencies in their international operations. By allowing the use of cryptos in foreign commercial payments, Russia offers an alternative to traditional payment systems, which are often subject to sanctions and restrictions. This could facilitate international transactions for Russian companies and reduce their reliance on foreign currencies.</p>
<p>In conclusion, the new law signed by Vladimir Putin represents a major advance for crypto regulation in Russia. By recognizing digital assets as property and exempting mining and the sale of cryptocurrencies from VAT, Russia positions itself as a key player in the field <a href="https://www.cointribune.com/crypto/" target="_blank" rel="noopener noreferrer nofollow">of cryptocurrencies</a> and strengthens its position in the global market for digital assets.</p>

Vladimir Putin Signs Major Crypto Law

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