Russian Crypto Bill Amendment Targets Mining, Trading

The amendment comes as interest in Russia’s crypto usage and policy continues to grow

article-image

Source: Shutterstock

share
  • The pending legislation, named “On Digital Currency,” was initially introduced to the Russian Parliament in February
  • Russia’s central bank called for a ban on crypto mining earlier this year

Russia’s Ministry of Finance has amended its digital currency bill to include cryptocurrency mining provisions, the agency announced Friday.

The ministry presented the original draft cryptocurrency law, which focused on digital assets as investment vehicles, to the Russian Parliament in February. The updated version of the bill, the ministry said, details rules around trading and mining cryptocurrencies.

The pending legislation, named “On Digital Currency,” comes as interest in the Russian government’s use of cryptocurrencies continues to increase amid the ongoing war in Ukraine, which started on Feb. 24 when Russia invaded the country.

In January, Russia’s central bank called for a ban of cryptocurrency mining, citing concerns that digital assets could undermine financial stability.

Reports that Russia was considering a state-sponsored digital ruble, its own central bank digital currency, swirled in early February.

In March, Sberbank, Russia’s top lender, was granted a license by the country’s central bank to begin issuing digital assets in response to US economic sanctions. Assets issued on the bank’s digital platform will be recorded and circulated via a distributed ledger technology system, ensuring “data security” and data immutability, Sberbank said.

The license will allow companies in Russia to issue their own digital assets, providing they prove they have the cash requirements, and use digital assets issued through the bank’s information system. The news came as concern over how Russian entities may be using cryptocurrencies to evade sanctions heightened.

The updated version of “On Digital Currency” introduces the concepts of professional and non-professional digital asset purchases, according to a report from Russian news outlet Kommersant. It also states the need to assess cryptocurrency products, the rules of trade and mining, the report added.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

The derivatives giant will extend futures and options access to round-the-clock trading in early 2026

by Blockworks /
article-image

Global fiber network goes live as SEC clears 2Z token for utility use

by Blockworks /
article-image

The SPAC transaction positions Avalanche Treasury Co. as a Nasdaq-listed vehicle for institutional AVAX exposure by 2026

by Blockworks /
article-image

The collaboration brings regulated money market fund exposure to Polygon, with custody provided by Standard Chartered

by Blockworks /
article-image

FG Nexus teams with Securitize to bring its Nasdaq-listed equity onchain, offering tokenized stock trading through Ethereum

by Blockworks /
article-image

Sponsored

Taiko launches binding onchain governance and appoints three directors with expertise in global regulation, business strategy and blockchain tech

by Sponsored /