The Coin Rise 2025-07-07 11:07:22

Russia Launches National Registry to Regulate Crypto Mining

Russia Ministry of Energy has rolled out a nationwide registry to track crypto mining rigs in a bid to regulate the sector and tackle tax evasion. According to a report by state-run newspaper RIA Novosti on Friday, the registry was created in partnership with the Federal Tax Service and the Ministry of Digital Development and has already been shared with regions identified as crypto mining hotspots. The move comes after Russian Finance Ministry official Ivan Chebeskov noted in June that only 30% of miners had registered with the Federal Tax Service despite the introduction of crypto mining laws in late 2024. Chebeskov highlighted that efforts were underway to bring the remaining 70% of miners into compliance to ensure proper taxation and oversight. Legalizing the Industry and Cutting Power Theft Deputy Energy Minister Petr Konyushenko emphasized that the national registry is a step toward “legalizing the industry and reducing illegal consumption,” as translated by Google from his interview with RIA Novosti. Konyushenko explained that the registry would help authorities accurately identify electricity users operating mining rigs, allowing for the enforcement of targeted taxation and regulatory measures. The Russian Energy Ministry initially proposed the creation of a mining registry in February to support the enforcement of mining bans in certain regions where crypto mining has been prohibited due to concerns over energy consumption and strain on local grids. Crackdown on Illegal Mining Operations in Russia Continues In November, Russia began enforcing a crypto mining-related bill that introduced legal definitions and mandatory registration for mining businesses. The government also banned crypto mining activities, including mining pools and individual operations, in 10 regions until March 2031 to prevent blackouts, according to state news agency TASS. Authorities are also moving to increase penalties for illegal mining operations, with Forbes Russia reporting in June that the digital development ministry is drafting a bill to raise fines for unauthorized crypto mining from 200,000 rubles ($2,534) to 2 million rubles ($25,500). Meanwhile, Russian law enforcement has been actively shutting down illegal crypto mining sites. On June 19, the Ministry of Internal Affairs reported discovering a mining farm hidden in a garage complex in Bataysk. Earlier, on June 14, authorities dismantled a mining operation concealed inside a truck that was siphoning electricity from a village in the Pribaikalsky region. The post Russia Launches National Registry to Regulate Crypto Mining appeared first on TheCoinrise.com .