The Russian State Duma is gearing up to deliberate on a series of cryptocurrency regulation bills this November. Anatoly Aksakov, the chair of the Financial Market Committee, has highlighted the anticipated discussion on mining, experimental legal frameworks, taxation, and the penalization of illicit crypto activities, according to <a href="https://tass.ru/ekonomika/19173617" rel="noopener noreferrer nofollow">tass</a>.&nbsp;
&nbsp;The move comes as a response to the burgeoning scale of the crypto business and the pressing need for structured regulation.
Aksakov shared on RBC TV that the bills are currently in the harmonization phase, acknowledging delays due to the complexity of the subject and the diversity of stakeholders involved. These discussions will also address the use of energy resources in crypto mining, an area that has sparked debate among various regulating bodies.
The engagement with the Central Bank, initially cautious about cryptocurrencies, and negotiations with other regulatory organizations have been challenging but are advancing. Aksakov expressed optimism, intending to initiate committee discussions to expedite the regulatory process. The upcoming talks aim to foster a legal environment conducive to business and to unlock potential revenue streams for the state budget. This proactive approach signals <a href="https://ultramining.com/news/en/russia-s-energy-ministry-charges-forward-to-legalize-crypto-mining/" rel="noopener noreferrer nofollow">Russia</a>'s commitment to formalize its stance on cryptocurrencies and their associated activities.

Russia Readies for Crypto Regulation Debates in November

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