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New Regulatory Measures for Cryptocurrency Mining in Russia

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by Giorgi Kostiuk

4 hours ago


The Russian government has established new rules to regulate cryptocurrency mining, including remote disconnections of equipment during high demand periods.

Classification of Miners by Consumption Priority

According to the new rules, miners will be classified as 'fourth category' consumers, having the lowest priority in electricity distribution. This means that in cases of energy shortages, their equipment can be disconnected to ensure supply to homes, hospitals, and essential industries.

Strengthening Sanctions Against Illegal Mining

Legal sanctions have also been reinforced. Individuals making illegal connections to the grid or operating in prohibited areas will face fines and criminal liability. Twelve regions experiencing energy deficits, including Siberia and the North Caucasus, have active bans on mining that could last up to six years.

Creation of a State Registry for Equipment

Additionally, a state registry for mining equipment will be established. This system will require labeling and certification for all imported hardware. The Ministry of Energy explained that the registry will help identify who uses electricity for mining and allow for remote outages when necessary.

These measures aim to redistribute energy effectively, reduce losses from illegal mining, and manage the sector's growth following its legalization.

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