The Russian Ministry of Energy has launched a national registration system for cryptocurrency mining equipment to eliminate tax evasion and illegal electricity theft by miners.
State-owned news agency RIA Novosti reported on Friday that the Russian Ministry of Energy, the Federal Tax Service, and the Ministry of Digital Development have "compiled a registry" and sent it to "regions where mining activities are increasing."
In June, Ivan Chebeskov, an official from the Russian Ministry of Finance, stated that despite the introduction of cryptocurrency mining laws, only 30% of miners had registered with the Federal Tax Service since the end of 2024. He also mentioned that the Ministry of Finance is developing measures to bring the remaining 70% of miners into the legal framework.
Deputy Energy Minister Petr Konyushenko stated in an interview with RIA Novosti that the national registration system is a step towards "legalizing the industry and reducing illegal consumption."
According to RIA Novosti, the Russian Ministry of Energy first proposed the creation of a national registry for cryptocurrency mining equipment and other related hardware as early as February to help enforce mining bans in regions where mining is prohibited.
The Russian government began implementing legislation related to cryptocurrency mining in November, introducing legal definitions and registration requirements for mining businesses.
According to state news agency TASS on December 24, the government has also banned cryptocurrency mining in 10 Russian regions, including mining pool activities and individual cryptocurrency mining, with a ban lasting for six years. This ban will continue until March 15, 2031, in hopes of preventing power outages.
Meanwhile, on June 9, Forbes Russia reported that the Ministry of Digital Development is drafting a new bill to increase fines for illegal cryptocurrency mining operations to 2 million rubles (approximately $25,500), up from the current 200,000 rubles (approximately $2,534).
Since the beginning of this year, Russian authorities have cracked down on multiple illegal cryptocurrency mining operations.
On June 19, an official representative of the Russian Ministry of Internal Affairs reported that local police discovered a mining farm in a garage complex in the city of Bataisk.
At the same time, on June 14, Russian authorities shut down a cryptocurrency mining operation hidden inside a truck that was stealing electricity in a village in the Pribaikalsky region.
Related: The Secret Service seized $400 million in crypto assets, with cold wallet scale ranking among the world's top.
Original: “Russia Cracks Down on Cryptocurrency Mining Energy Thieves and Tax Evaders”
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