The goal of the registry is to help identify illegal operators evading taxes and misusing electricity. Spearheaded by the Ministry of Energy alongside the Federal Tax Service and the Ministry of Digital Development, the initiative follows reports that only 30% of miners have registered with authorities since crypto mining laws were introduced in late 2024. The registry supports enforcement in regions where mining is banned and complements proposed legislation to increase penalties for illegal mining operations. In the US, crypto taxation is also a hot topic. Bill Miller IV argues that Bitcoin should not be taxed like traditional assets due to its decentralized infrastructure, which he says eliminates the need for state-backed ownership enforcement. Senator Cynthia Lummis introduced a bill to modernize crypto tax rules, proposing exemptions for small transactions, staking rewards, and donations. Russia Moves to Regulate Crypto Mining Russia is ramping up its efforts to regulate its crypto mining sector by launching a national registry of crypto mining rigs. This move is spearheaded by the Russian Ministry of Energy in coordination with the Federal Tax Service and the Ministry of Digital Development, and its main goal is to identify and control illegal mining operations that evade taxes and exploit the power grid. According to state media RIA Novosti , the compiled registry has already been sent to regions experiencing heightened mining activity. The initiative follows concerns that were raised by Ivan Chebeskov, a Russian Finance Ministry official, who pointed out in June that only 30% of miners registered with the Federal Tax Service since the introduction of crypto mining laws in late 2024. Authorities are now working to integrate the remaining 70% of miners into the legal framework. (Source: TASS ) Deputy Energy Minister Petr Konyushenko believes that the registry is a crucial step toward legalizing the industry and applying appropriate regulation and taxation, as well as curbing illegal electricity consumption. Russia first announced plans to create the registry in February, especially to support enforcement in areas where crypto mining is banned. Since November, the country has been enforcing legislation that defines and regulates mining businesses , with a six-year ban imposed on mining activities in ten regions until March of 2031 to prevent blackouts. Additionally, the Ministry of Digital Development is drafting new legislation to increase fines for illegal mining operations tenfold—from 200,000 rubles to 2 million rubles, which is equivalent to about $25,500. Enforcement efforts have already resulted in the shutdown of several illicit mining farms, including one discovered in a garage in Bataysk and another that was concealed in a truck siphoning electricity from a remote village in the Pribaikalsky region. Bill Miller IV Says Bitcoin Shouldn’t Be Taxed While Russia is zeroing in on tax evaders, chief investment officer at Miller Value Partners Bill Miller IV believes governments have no rightful claim to tax Bitcoin. He argues that the digital asset operates independently of state infrastructure for managing property rights. On the Coin Stories podcast with Natalie Brunell, Miller said Bitcoin’s blockchain automates the enforcement of ownership, eliminating the need for the traditional administrative mechanisms that justify taxation in other asset classes like real estate. Miller explained that taxes on assets like property typically support systems that track and enforce ownership. In contrast, Bitcoin relies entirely on its decentralized ledger to record and verify transactions, meaning the government plays no role in maintaining or authenticating its ownership records. He said that since governments didn’t create Bitcoin and don’t secure its property rights, taxing it in the same manner as state-backed assets lacks justification. He also commented on the speculative idea that was floated earlier this year that capital gains taxes on certain US-based cryptocurrencies could be eliminated. This was reportedly proposed by Eric Trump. While Miller is very skeptical about whether such a policy will actually materialize, he pointed to the lack of a wash sale rule on Bitcoin as a unique and favorable aspect for investors. Bill Miller IV When asked about the possibility of Bitcoin being subjected to an annual property tax, similar to real estate, Miller said it’s uncertain but sees a strong case against it due to Bitcoin’s self-regulating nature. He also shed some light on the broader challenges asset managers face regarding Bitcoin investment by pointing to unresolved issues around taxation and how certain transactions can be classified as “bad income” under existing regulations. Miller concluded that the ongoing tax uncertainties prove just how early Bitcoin still is in its journey toward mainstream acceptance. Senator Lummis Pushes New Crypto Tax Relief Bill Meanwhile, US Senator Cynthia Lummis introduced a draft bill that is aimed at modernizing the country’s tax code to better accommodate digital assets, following the failure of crypto-related amendments to make it into the recent budget package. The bill proposes several changes, including a de minimis exemption that would allow people to exclude capital gains from taxation on digital asset transactions of $300 or less, with an annual cap of $5,000. Lummis’ crypto tax bill Lummis is a very vocal supporter of the crypto industry, and also proposed tax exemptions for crypto lending agreements and digital assets donated to charity. In addition, the legislation would defer taxation on mining and staking rewards until the assets are actually sold. This will greatly simplify tax compliance for those participating in blockchain consensus mechanisms. She described the bill as a common-sense approach that is designed to eliminate outdated bureaucracy and reduce the risk of inadvertent tax violations. It could also allow Americans to fully participate in the digital economy. The standalone bill represents Lummis’ renewed effort to push forward pro-crypto legislation after the latest federal spending bill passed without addressing digital assets. With this proposal, she plans to fulfill her commitment to the crypto community and correct what many see as a growing disconnect between outdated tax policies and changing blockchain technologies. The lack of clear tax guidelines has become a major source of frustration for US crypto investors, particularly regarding the treatment of decentralized finance protocols and non-custodial platforms. These platforms do not involve traditional intermediaries or centralized control, and pose unique challenges under existing tax frameworks. Lawmakers have responded by introducing amendments to other crypto-related bills, like the Digital Asset Market Clarity Act of 2025, to exempt developers of these protocols from being treated as money transmitters and subjected to extensive reporting obligations. While lawmakers work to finalize the federal spending bill, efforts are still underway to include meaningful crypto provisions before it reaches President Donald Trump’s desk. Lummis’ draft bill is now a central piece in the push to establish a fair and forward-thinking regulatory environment for digital assets in the United States.
