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International Business Times
International Business Times
Business
Marvie Basilan

$BTC Tops $62K After Putin Signs Law Legalizing Bitcoin, Crypto Mining In Russia

Bitcoin Mining Russia United States Crypto Vladimir Putin CoinGecko
Amid western sanctions, Russia's Vladimir Putin has now legalized Bitcoin mining. (Credit: Ivan Radic/flicker)

KEY POINTS

  • The law also allows registered mining pools and individual entrepreneurs to take part in the burgeoning $BTC mining industry
  • Russian lawmakers approved the use of digital assets for cross-border payments earlier this year
  • Putin has said Russia should "seize the moment" in crypto regulation and operations

Russian President Vladimir Putin has signed a law that legalizes the mining of Bitcoin and other cryptocurrencies in the country, paving the way for the nation to have a chunk of the burgeoning industry.

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