Russia will impose strict restrictions on the circulation of crypto assets from September 1, but will exempt miners and central bank projects

BlockBeats news, April 29, according to BeInCrypto, from September 1, Russia will impose strict restrictions on the circulation of crypto assets such as Bitcoin, and only allow the issuance of digital financial assets within its jurisdiction. Anatoly Aksakov, chairman of the State Duma Financial Market Committee, led the move. This is part of the government's broader efforts to control the crypto ecosystem amid heightened geopolitical tensions. Aksakov said that the upcoming law aims to restrict non-Russian cryptocurrency businesses to strengthen the dominance of the ruble. The bill will make exceptions for cryptocurrency miners and central bank-supported test projects within the experimental legal framework. This is because cryptocurrency mining has greatly increased Russia's tax revenue. However, State Duma member Anton Gorelkin clarified that Russia does not intend to ban cryptocurrencies completely. Restrictions will affect the creation of cryptocurrency exchanges and other platforms that provide services for cryptocurrency transactions.