State Duma passes legislation package on pilot legalization of cryptocurrency in Russia

MOSCOW. July 30 (Interfax) - The State Duma on Tuesday passed at its third and final reading a bill legalizing cryptocurrency mining in Russia and stipulating 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.