Russia Plans to Allow ‘Non-Residents’ Access to Crypto Platforms, Helping Bitcoin Miners Sell BTC

cryptonews.com:

The Russian government appears to be preparing the ground for the legalization and regulation of the Bitcoin (BTC) and crypto mining sector – and is already planning what looks like a way for miners to sell their tokens to overseas buyers even after the nation begins policing crypto transactions.

As reported, the long impasse between the Ministry of Finance (pro-business and very guardedly pro-crypto adoption) and the staunchly anti-crypto Central Bank appears to have come to an end after direct intervention from President Vladimir Putin. The parties now reportedly favor a draft bill that will seek to eliminate anonymity in the crypto sector and force crypto exchanges to register with a new super-regulatory body.

But the political wrangling in Moscow has left miners – particularly industrial miners – high and dry, with many urging policymakers to “hurry up” and legalize their sector. Miners have been stuck in a “grey” limbo, whereby their activities are neither illegal nor officially recognized.

Putin has made mention of favorable crypto conditions in Russia – including the nation’s vast energy resources, and the country is now considered to be the second-largest Bitcoin mining nation after the United States.

As such, the government appears keen to find a way to sell their BTC with relative freedom – provided buyers are not based on Russian soil.

Per the news agency Interfax, the ministry has issued draft proposals on the matter, which explain that “non-residents” should “be able to access, remotely if needs be, [...] digital currency exchange operators and foreign digital currency exchanges within Russian territory.”

Furthermore, the document’s authors explained:

“In the event of the formation of a legal [framework to police]