Russian Cryptocurrency Mining Law Expected to Be Approved in January 2023

Anatoly Aksakov, chairman of the Russian lower house of parliament's financial market committee, said a bill on cryptocurrency mining regulation will be delayed due to concerns that cryptocurrencies could become a conduit for capital flight, Russia's TASS news agency reported. Anatoly Aksakov previously expected the bill, which would legalize crypto mining and the sale of mined cryptocurrencies, to pass all three readings in parliament in December and may now be approved in January next year. The bill was introduced in the lower house of parliament (State Duma) on November 17, 2022. Meanwhile, Aksako noted that if no deal is reached with opponents by next month, passage of the bill could be further delayed.