Regulation in Russia
Even after the adoption of the law on digital financial assets (DFA) in 2020 , the turnover of digital currency remained unregulated, while transactions with it continued actively.
The situation changed in 2022, after the introduction of unprecedentedly harsh anti-Russian sanctions. New restrictions, primarily the blocking of Russian currency reserves, forced the Bank of Russia to make concessions regarding the permissible circulation of crypto assets.
A compromise was reached on the regulation of mining and the use of cryptocurrencies in foreign trade. The result wasa bill on mining , which was introduced into the State Duma by deputies representing all factions of the chamber on November 17. Anatoly Aksakov, the head of the Duma's financial markets committee, predicts , that the bill will be approved as early as December. So, it is not excluded that mining in Russia will be legalized from the beginning of 2023.
As part of an experimental legal regime, the Bank of Russia may allow private companies to exchange cryptocurrencies for participants in foreign trade. However, at the initial stage, this mechanism should be tested on state-owned companies, said Deputy Chairman of the Central Bank Alexei Guznov in May 2023.
More details:
Concept of legislative regulation of mechanisms for organizing the circulation of digital currencies( Government of the Russian Federation, February 8, 2022)
Federal Law of July 31, 2020 No. 259 - On Digital Financial Assets, Digital Currency, and on Amendments to Certain Legislative Acts of the Russian Federation (with amendments and additions)