The Liberal Democratic Party of Russia prepares to introduce a bill to regulate the mining of cryptocurrencies

The legislators of the Liberal Democratic Party of Russia are preparing to propose a draft law aimed at regulating cryptocurrency mining. Democratic lawmakers said that the legislation will benefit Russian citizens and the country, as well as those who want to legally participate in the business. As the value of the crypto market rises, Andrey Lugovoy, a member of the nationalist faction in the State Duma, the lower house of the Russian parliament, revealed this week that his Liberal Democratic Party (LDPR) will submit a draft law on the regulation of cryptocurrency mining. Lugovoy believes that it is time to pass new legislation to regulate cryptocurrency mining. This solution will provide protection for Russian citizens, simplify taxation, ensure transparency, and allow the state to exercise control over the sector while increasing budget revenue. Entrepreneurs will also get an opportunity to conduct business legally. (News.bitcoin)