The Ministry of Energy, the Federal Tax Service and the Ministry of Digital Development of Russia have jointly created a register of cryptocurrency mining machines and shared it with regions that see high mining activity, Deputy Energy Minister Petr Konyushenko told RIA Novosti on Monday.
He said this step will help pinpoint who uses electricity for mining, apply special rules and taxes, and curb unlicensed power use.
A Step Toward Legalising Mining
Konyushenko explained that the new list of devices will let authorities accurately identify mining operators and ensure they comply with energy rules.
He noted that, together with the tax and digital ministries, they have already sent the register to regions known for intense mining. The move aims to legalise the industry and cut back on illegal power draws that strain local grids.
In May, Deputy Minister Yevgeny Grabchak said the Ministry of Industry and Trade backed the idea of a unified mining register. That proposal first surfaced in February during a working group meeting on digital currency regulation. All three ministries now agree it is a key tool for bringing clarity to a fast‑growing sector.
Mining Law and Registration Rules
Russia enacted its first cryptocurrency mining law last year. As long as they register with the Federal Tax Service, the rule permits digital coin mining by both businesses and individual entrepreneurs.
Citizens who mine as a hobby may operate without formal registration, but only if their energy use stays below government limits. Under the law, every miner must supply the tax service with records of the cryptocurrency they create or receive.
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With the new equipment register, tax officers can cross‑check declared machines against actual power consumption. This will help catch operators who exceed their permitted thresholds or avoid taxes. In turn, miners who follow the rules gain legal certainty and can plan investments without fear of sudden shutdowns.
Boosting Transparency and Investment
By keeping a full catalogue of mining rigs, the government plans to boost the sector’s credibility. A clear, shared database will make it easier for regulators to spot unauthorised setups and for legitimate operators to prove their compliance.
Officials hope that greater transparency will draw more local and foreign capital into Russia’s mining hubs. As the market matures, they expect new technology firms to develop, creating jobs and innovation in regional centres.
Ukraine Imposes Crypto Sanctions
In a related financial move linked to the Russia‑Ukraine conflict, Ukrainian President Volodymyr Zelenskiy signed a decree imposing sanctions on 60 companies accused of using cryptocurrencies to shift Russian assets.
The sanctions target firms that allegedly funnelled money across borders via digital coins, aiming to block those channels and tighten financial pressure.
Russia’s launch of a national mining equipment register marks a clear push to bring order to an industry once defined by unsteady rules and underground operations.
While miners gain legal clarity, regional authorities get better tools to manage electricity use and collect taxes.
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