• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Russia Legalizes Cryptocurrency Mining from November 2024

user avatar

by Giorgi Kostiuk

10 months ago


  1. Registration Process for Mining Companies
  2. Penalties for Law Violation
  3. Goals of Mining Legalization

  4. Starting November 1, 2024, a new law will come into effect in Russia that will fully legalize cryptocurrency mining. This change aims to bring transparency to the mining sector and reduce the number of illegal mining farms that currently consume excessive amounts of electricity.

    Registration Process for Mining Companies

    Under the new law, mining companies and individual entrepreneurs will be required to register in a special registry to legally continue their operations. This step aims to simplify control in the mining sector and ensure the legality of their operations.

    Penalties for Law Violation

    Miners operating without registration or who exceed certain energy consumption limits will face harsh penalties. These penalties include equipment confiscation and multi-million ruble fines. Authorities are determined to crack down on the 'grey' mining market, which has been blamed for contributing to energy shortages in Siberia and other key regions.

    Goals of Mining Legalization

    The creation of a clear regulatory framework is aimed at making mining a legal and profitable business. While the goal is to eliminate illegal activities that strain the energy sector, legalization will also benefit the development of the economy and the use of modern technologies.

    The introduction of this law aims to regulate mining activities in Russia, create transparency in the sector, and eliminate illegal operations, providing a legal foundation for the development of the industry.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

BTC Forecast: Price Might Surpass $110,000 with Institutional Investments

chest

Bitcoin (BTC) price is expected to reach $110,000 amid rising institutional investments and ETF activity in July 2025.

user avatarGiorgi Kostiuk

Robinhood Introduces Tokenized Stocks: A Revolution in Blockchain Trading

chest

Robinhood has launched tokenized stock trading on its Ethereum layer, opening new market opportunities.

user avatarGiorgi Kostiuk

Elon Musk and His America Party: Bitcoin Support and Political Ambitions

chest

Elon Musk announced Bitcoin support through America Party, expressing dissatisfaction with the current political situation.

user avatarGiorgi Kostiuk

Top Cryptos for Investment in 2025: BlockDAG, Litecoin, Toncoin, and Filecoin

chest

An analysis of the top cryptocurrencies for 2025: BlockDAG, Litecoin, Toncoin, and Filecoin, including their growth and potential.

user avatarGiorgi Kostiuk

Ethereum Retests $2,500 Support and Sets Stage for Altcoin Rally

chest

Ethereum tests the $2,500 support level amidst rising network activity and declining Bitcoin dominance.

user avatarGiorgi Kostiuk

SHIB Whales Increase Holdings While Ethereum Prices Surge

chest

Whales are accumulating Shiba Inu coins as Ethereum price discussions heat up with dormant wallets waking up.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.