The Russian State Duma on Tuesday passed at its third and final reading a bill legalizing cryptocurrency mining in Russia, Interfax reports. It will stipulate the launch of a pilot project for creating a platform in the country to make it possible to use cryptocurrencies in international settlements, and another bill allowing for exchange trading in cryptocurrency under the supervision of the Bank of Russia.
The package of legislation, which includes a bill on cryptocurrency mining and settlements in cryptocurrencies under foreign trade contracts as part of a pilot project overseen by the Bank of Russia has been passing the approval process since late 2022.
