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The Liberal Democratic Party of Russia prepares to introduce a bill to regulate the mining of cryptocurrencies
Legislators from 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.
The Indian government will take “gradual” measures against cryptocurrencies
Although the Indian government recognizes the risks associated with cryptocurrency, it intends to take “gradual” and “forward-looking” steps on this issue. After Prime Minister Narendra Modi hosted a conference on the future of cryptocurrencies in the country, sources said that the participants noted the risks of unregulated markets becoming channels for money laundering and terrorist financing and vowed to remain vigilant. . The government recognizes that this is a constantly evolving technology; therefore, the government will pay close attention and take active measures. India may seek alliances with other countries/entities to regulate cryptocurrencies. Since this issue crosses the borders of various countries, it is believed that it also requires global partnerships and collective strategies. The meeting took place when India’s main opposition party, the National Congress of India, stepped up its attack on the ruling Bharatiya Janata Party, claiming that it helped cover up a Bitcoin scam in Karnataka.
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