In the latest major decision, Russia has passed a bill that prohibits Bitcoin miners from earning Bitcoin. This move has attracted widespread attention and heated discussions, not only in the cryptocurrency field, but also in the global financial market. Let's take a deep look at the story behind this bill, its impact, and possible future developments.

This Russian bill prohibits Bitcoin miners from earning Bitcoin, which is essentially an important intervention in the cryptocurrency market. Behind this decision is a fundamental change in the attitude of the Russian government towards cryptocurrencies. In the past, Russia was considered a paradise for Bitcoin enthusiasts, but now the government seems to have begun to tighten its regulation of digital currencies. This move has sparked speculation about the future direction of Russia's cryptocurrency policy.

The implementation of this bill will have a profound impact on Bitcoin miners and the entire cryptocurrency community. Bitcoin miners have always been the backbone of this industry, and now they will no longer be able to earn Bitcoin through mining. This is undoubtedly a huge blow to those who rely on mining for a living. Many miners will have to rethink their career choices and find other ways to make a living. The entire cryptocurrency market will also be affected as a result, and the supply of Bitcoin may be affected to a certain extent, which may further affect the stability of the market.

There may be multiple considerations behind the introduction of this bill. On the one hand, the government may believe that there are certain risks and instability factors in the cryptocurrency market, and hope to maintain the stability of the financial market through intervention. On the other hand, the government may also worry that the development of cryptocurrency poses a potential threat to the traditional financial system, and hope to control this development by restricting mining. Regardless of the considerations, this bill will have a profound impact on Russia's financial market and the entire cryptocurrency industry.

Globally, this Russian bill will also trigger more extensive discussions and reflections. Governments and regulators may review their attitudes towards the cryptocurrency market and re-evaluate regulatory policies to adapt to the development of this emerging industry. The cryptocurrency market itself will also face more challenges and opportunities, and needs to constantly adjust and innovate to adapt to the changing environment.

In this era full of variables and challenges, the future of the cryptocurrency market is full of uncertainty. The introduction of this Russian bill has undoubtedly brought new variables to this industry and made people re-examine the development prospects of cryptocurrency. Whether it is the government, miners or investors, they need to be prepared to deal with uncertainty, actively respond to challenges, and find new development paths. Only in constant change and adjustment can the cryptocurrency market usher in a brighter future.

In general, the new Russian bill prohibits Bitcoin miners from earning Bitcoin, which is not only a major intervention in the cryptocurrency market, but also an important signal for the development direction of the entire industry. In the face of this change, we need to stay alert and be prepared to meet future challenges and opportunities. The future of the cryptocurrency market is full of infinite possibilities. Let us look forward to and work together to create a more prosperous and stable cryptocurrency world.

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A new bill submitted by Russia’s Ministry of Finance makes it illegal for miners to receive rewards in cryptocurrencies such as Bitcoin or Ether, local Russian news outlet Izvestia reported today.

If the proposed amendments to the Law on Digital Financial Assets come into force, there will only be three situations in Russia where receiving cryptocurrencies would be acceptable: inheritance, bankruptcy, and acquisition of assets in enforcement proceedings, according to a copy of the proposal reviewed by Izvestia.

In all other cases, including mining rewards, all operations with cryptocurrencies will be considered illegal for Russian citizens and businesses. Residents who violate the proposed law could face fines of up to 100,000 rubles (currently about $1,325) and up to seven years in prison. Legal entities could face fines of up to 1 million rubles ($13,250).

Lawyers interviewed by Izvestia noted that the amendments require extensive changes. Efim Kazantsev, managing partner at law firm EK&P, described the measures proposed by the Ministry of Finance as “extremely draconian and effectively a complete ban on the circulation of cryptocurrencies in Russia.”

Other experts also said that while miners may come up with some legal structure to continue their activities under the new regulations (since mining itself would remain legal but financially meaningless), this cannot rule out liability risks.

Russia updated its crypto law in late July. It is less stringent than previously proposed, but makes assets like Bitcoin essentially useless by prohibiting the purchase of goods with Bitcoin. The law recognizes digital currency "as a collection of electronic data capable of being accepted as a means of payment" and gives it legal status, but adds that it "cannot be used at the same time to pay for any goods or services."