EUR/USD 1.16209
-0.410%
Gold 4545.67
-2.292%
Oil 100.978
3.282%
USD/JPY 158.766
0.243%
GBP/USD 1.33180
-0.615%
GBP/JPY 211.449
-0.370%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
California Governor Gavin Newsom: Last year, Trump and Republicans opted to raise Medicare premiums for millions of Americans in the Affordable Care Act (ACA) market. My proposed budget will continue to offer $0 premium Medicare plans for low-income Californians to help clean up the fiscal mess Trump created.Israel Defense Forces: The alarm that just sounded in the Majidal Shams area has been confirmed as a false alarm.1. Ukraines Ministry of Development: Russia attacked a grain terminal at a Ukrainian port, injuring seven people. 2. Russias Ministry of Defense: Russian forces conducted a large-scale offensive against Ukraine from May 12 to 15. 3. The commander of Ukraines drone force stated that Ukrainian drones attacked a Russian oil refinery in the Ryazan region. 4. Irans Foreign Minister confirmed that talks have been held with Russia regarding a proposal to store enriched uranium. 5. Russias Foreign Minister: Russia hopes to end the war with Iran and achieve a sustainable solution. 6. Russias Ministry of Defense: The UAE-mediated exchange of war prisoners between Russia and Ukraine will take place on Friday. 7. According to industry sources and Reuters calculations, Russias seaborne exports of petroleum products fell 9.8% month-on-month in April. 8. Russian State Statistics Service: Russias GDP fell 0.2% year-on-year in the first quarter, compared to a 1% increase in the previous quarter.On May 16, the 11th Review Conference of the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) continued at the United Nations Headquarters in New York. China called on relevant nuclear-weapon states to withdraw their overseas-deployed nuclear weapons to their own territories and to avoid new deployments on foreign soil. Regarding nuclear sharing arrangements, China believes that this issue involves nuclear disarmament and should be examined from the perspective of preventing nuclear proliferation. China expressed serious concern about existing nuclear sharing and extended deterrence arrangements and called on relevant nuclear-weapon states to withdraw their overseas-deployed nuclear weapons to their own territories and to avoid new deployments on foreign soil. China also stated that the serious imbalance between the supply and demand of sensitive nuclear materials in certain countries deserves serious attention. The International Atomic Energy Agency (IAEA) needs to strengthen its research and monitoring of related issues to prevent actions that are inconsistent with the NPT.NIO (NIO.N): As of May 16, NIO has built 8,868 charging and battery swapping stations nationwide, including 3,848 battery swapping stations, 5,020 charging stations, and 28,853 charging piles, providing more than 100 million battery swaps to date.

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.

Suggestion