Overview

Russia’s Ministry of Energy has initiated a registry of cryptocurrency mining equipment to identify and regulate mining activities, ensuring compliance with new tax and regulatory measures. This registry aims to enhance oversight of miners’ energy consumption, particularly in regions with heightened mining activity.

Key Points

• The registry is designed to facilitate the tracking of mining operations under new regulatory frameworks.
• Deputy Energy Minister Petr Konyushenko stated that this list has been disseminated to areas with significant mining operations, supporting the government’s efforts to legalize cryptocurrency mining in Russia.
• This initiative follows recent legal findings that require businesses to register with tax authorities to operate mining facilities. Private individuals may mine without registering, as long as they stay within government-specified energy consumption limits.

“The creation of such a register will allow for the precise identification of consumers using electricity for mining,” said Konyushenko. “This move is part of an effort to legalize the sector and curb unlicensed electricity consumption.”

The broader context includes Russia’s growing embrace of the crypto sector, highlighted by multiple initiatives to regulate and promote legitimate mining operations.