# Russia's Bold Move: New Crypto Law Tightens State Grip on Digital Assets! 💼

**URL:** <https://onehack.st/t/russias-bold-move-new-crypto-law-tightens-state-grip-on-digital-assets/294691>\
**Category:** News & Articles\
**Tags:** learning, earn-money\
**Created:** [October 29, 2024, 1:05pm UTC](https://onehack.st/t/russias-bold-move-new-crypto-law-tightens-state-grip-on-digital-assets/294691 "2024-10-29T13:05:14Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![TheJoker](https://onehack.st/user_avatar/onehack.st/thejoker/32/22660_2.png) [@TheJoker](https://onehack.st/u/TheJoker)\
**Post date:** [October 29, 2024, 1:05pm UTC](https://onehack.st/t/russias-bold-move-new-crypto-law-tightens-state-grip-on-digital-assets/294691/1 "2024-10-29T13:05:14Z")

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**Summary:**

1. **New Legislation Enacted**  
Russia has published a new law aimed at enhancing state control over cryptocurrency mining and digital assets, effective November 1.

2. **Expanded Oversight**  
The law grants various federal agencies access to digital currency identifier addresses, improving the ability to monitor and regulate cryptocurrency activities.

3. **Mining Restrictions**  
Provisions allow the government to impose restrictions on mining operations based on regional requirements and to shut down mining pools in specific locations.

4. **Regulatory Responsibilities Shift**  
The responsibility for the national mining register has transferred from the Ministry of Digital Development to the **Federal Tax Service** , which will manage mining registrations and penalize violators.

5. **Compliance for Businesses**  
While individual miners may operate without registration under certain conditions, companies and entrepreneurs must meet new compliance requirements to continue their operations.

**Read more at:** [Bitcoin.com](https://news.bitcoin.com/russia-publishes-new-crypto-law-expanding-state-control-over-digital-assets/)