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On March 8th, the Russian Ministry of Defense reported on the 7th that the Russian military, using land-based, air-based, and sea-based long-range high-precision weapons and attack drones, conducted a large-scale strike against Ukrainian military-industrial complexes, energy infrastructure serving the needs of the Ukrainian military, and military airfields. The Russian military also struck 149 areas, including Ukrainian military transportation infrastructure and temporary deployment points for Ukrainian troops and foreign mercenaries, with air defense systems shooting down 200 fixed-wing drones. The General Staff of the Ukrainian Armed Forces reported on the 7th that 148 battles occurred in the front-line areas in the past day. The Ukrainian military is thwarting Russian attempts to advance deeper into Ukraine and has inflicted significant manpower and equipment losses on Russian forces in multiple locations. The Ukrainian Air Force, missile units, and artillery attacked Russian personnel concentration areas, drone control points, artillery systems, and other targets, shooting down more than 1,800 Russian drones.March 8th - The Press Center of the Fourth Session of the 14th National Peoples Congress (NPC) issued a notice stating that the second "Ministerial Corridor" press conference of the Fourth Session of the 14th NPC will be held in the North Hall of the Great Hall of the People on the morning of March 9th, 2026, following the second plenary meeting. Principal officials from relevant departments of the State Council attending the meeting will be invited to give interviews. Domestic and foreign journalists are welcome to participate with their press credentials issued by the NPC.March 8th - At 10:00 AM, the Fourth Session of the 14th National Peoples Congress (NPC) held a press conference, inviting Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, to answer questions from Chinese and foreign journalists on issues related to "Chinas Foreign Policy and External Relations." The Fourth Session of the 14th NPC held group meetings throughout the day, reviewing the draft Ecological and Environmental Law in the morning and the draft Law on Promoting Ethnic Unity and Progress and the draft Law on National Development Planning in the afternoon. The Fourth Session of the 14th National Committee of the Chinese Peoples Political Consultative Conference (CPPCC) held group meetings in the morning to discuss the draft Ecological and Environmental Law, the draft Law on Promoting Ethnic Unity and Progress, and the draft Law on National Development Planning; the third plenary meeting was held in the afternoon, where members delivered speeches.Saudi Ministry of Defense: Saudi Arabia thwarted a drone attack targeting the diplomatic district of Riyadh; no injuries were reported.Kuwaiti Army: Responding to a drone attack, shrapnel caused some damage to civilian buildings.

The Russian Ministry of Finance Has Completed A Bill To Regulate Cryptocurrency Mining

Cory Russell

Apr 18, 2022 10:54

The draft legislation of the crypto bill "On Digital Currency" by the Ministry of Finance (MoF) emphasizes mining and trading laws.


Operators of exchanges and digital trading platforms will be licensed and regulated by a Russian government entity.


The new rule comes as a result of a rising desire for mining among Russian ministers.


Russia's new crypto regulatory law, according to information supplied by Russian news source Kommersant, would be rigorous in its approach.


The most current version of the draft legislation covers the new trading and mining laws for cryptocurrencies (Bitcoin, Ethereum, Litecoin, and others) introduced under the bill "On Digital Currency."

Russia Creates New Crypto Bill

The bill's additional standards for exchange and digital trading platform providers were one of the bill's centerpieces. According to Kommersant, these operators will now work as a team.


The exchange operators will be the ones to buy and sell cryptocurrencies on their own behalf and at their own cost, while the operators of digital trading platforms will be in charge of the organized bidding.


Additionally, these operators will be required to establish a distinct structural unit, produce yearly reports, meet the needs of new management bodies, perform internal control and auditing, and more.


They will also need to be classified as an AML/CFT organization, and their operations will be regulated and licensed by a Russian government authority.


Finally, for the first time, the measure will concentrate on the crypto mining process and companies. After registering with the appropriate authorities, legal companies, and individual miners, the law specified that crypto mining might be done.


These operations will be taxed individually, and data centers will be made available for mining if the owner is a Russian legal company.

Mining is in high demand

While the Russian government was planning to take cryptocurrency in January, things started to pick up pace once the Russian-Ukraine conflict erupted. Not only was the demand for cryptocurrencies increasing, but so was the need for mining.


Russia's Deputy Energy Minister, Evgeny Grabchak, stressed that the legal void around crypto mining must be filled as quickly as possible, with a clear set of laws and regulations in place.


To make the process more efficient, he advised decentralizing it by choosing mining locations on a more regional level rather than at the federal level.


With these rules about to take effect in the near future, it seems that the transition from calling for a mining ban to accepting controls is more of a necessity than a natural shift of attitude.

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