The Ministry of Energy of Russia has implemented a national registry to monitor crypto mining in the country. This initiative is aimed at regulating the sector and combating tax evasion.
Creation of the Crypto Mining Registry
The Ministry of Energy of Russia, in collaboration with the Federal Tax Service and the Ministry of Digital Development, has developed a registry to track crypto mining rigs. The registry has already been shared with regions identified as crypto mining hotspots. This measure was introduced following Finance Ministry official Ivan Chebeskov's statement that only 30% of miners had registered with tax authorities despite the implementation of crypto mining laws in 2024.
Legalizing the Industry and Cutting Power Theft
Deputy Energy Minister Petr Konyushenko emphasized that the national registry is a step towards 'legalizing the industry and reducing illegal consumption of electricity.' The registry will help authorities accurately identify electricity users operating mining rigs, allowing for targeted taxation and regulatory measures.
Continued Crackdown on Illegal Mining
Since November, Russia has begun enforcing a crypto mining-related bill that introduces legal definitions and mandatory registration for mining businesses. Authorities are also moving to increase penalties for illegal mining. A bill is being drafted to raise fines for unauthorized crypto mining from 200,000 rubles to 2 million rubles. Law enforcement agencies are actively shutting down illegal mining farms found in various regions.
The launch of the national crypto mining registry in Russia reflects the authorities' serious efforts to regulate this sphere. Increasing accountability among miners and combating illegal operations remain top priorities.
