Russia goes after illegal miners with new registry for crypto mining rigs
The post Russia goes after illegal miners with new registry for crypto mining rigs appeared on BitcoinEthereumNews.com. Government departments in Russia have created a special register for coin mining equipment to help local authorities in their efforts to curb illegal mining activities. The initiative of the executive power in Moscow comes amid an ongoing crackdown on miners working outside the law in Russian regions, often powering their crypto farms with stolen electricity. Russia registers mining hardware to track down rogue miners Russia’s Ministry of Energy, the Federal Tax Service (FNS) and the Ministry of Digital Development have compiled a register of devices used for cryptocurrency mining, RIA Novosti reported, quoting Deputy Energy Minister Petr Konyushenko. The gathered information has already been shared with authorities in the Russian regions witnessing increased miner activity, the government official revealed in an interview with the leading news agency, elaborating: “The creation of such a register will allow us to accurately identify consumers using electricity for mining needs. This is necessary in order to apply special regulation and taxation to those.” Konyushenko described the move as a step towards legalizing the whole industry while reducing the illegal consumption of electricity, which has been blamed for losses for the power distribution companies and the state as well as energy deficits in parts of the country. The energy ministry pitched the idea to establish a unified register of mining equipment during a working meeting on the regulation of digital currency extraction in February. The proposal was also backed by the Russian Ministry of Industry in May. Russia legalized cryptocurrency mining with a law adopted in the summer of 2024. It allows both companies and individual entrepreneurs to legally mint digital coins in the Russian Federation, provided they register with the tax authority and pay due taxes. Private citizens are allowed to mine without registration as long as their electricity consumption does not exceed a…
The post Russia goes after illegal miners with new registry for crypto mining rigs appeared on BitcoinEthereumNews.com.
Government departments in Russia have created a special register for coin mining equipment to help local authorities in their efforts to curb illegal mining activities. The initiative of the executive power in Moscow comes amid an ongoing crackdown on miners working outside the law in Russian regions, often powering their crypto farms with stolen electricity. Russia registers mining hardware to track down rogue miners Russia’s Ministry of Energy, the Federal Tax Service (FNS) and the Ministry of Digital Development have compiled a register of devices used for cryptocurrency mining, RIA Novosti reported, quoting Deputy Energy Minister Petr Konyushenko. The gathered information has already been shared with authorities in the Russian regions witnessing increased miner activity, the government official revealed in an interview with the leading news agency, elaborating: “The creation of such a register will allow us to accurately identify consumers using electricity for mining needs. This is necessary in order to apply special regulation and taxation to those.” Konyushenko described the move as a step towards legalizing the whole industry while reducing the illegal consumption of electricity, which has been blamed for losses for the power distribution companies and the state as well as energy deficits in parts of the country. The energy ministry pitched the idea to establish a unified register of mining equipment during a working meeting on the regulation of digital currency extraction in February. The proposal was also backed by the Russian Ministry of Industry in May. Russia legalized cryptocurrency mining with a law adopted in the summer of 2024. It allows both companies and individual entrepreneurs to legally mint digital coins in the Russian Federation, provided they register with the tax authority and pay due taxes. Private citizens are allowed to mine without registration as long as their electricity consumption does not exceed a…
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