Russia Requires Miners to Register in New Registry

As part of Russia’s efforts to bring cryptocurrency mining into the legal framework, a new special registry has been established. This registry will be mandatory for all legal entities and individual entrepreneurs involved in cryptocurrency mining. According to the newly passed law, only registered miners will be allowed to continue their operations without penalties.

This regulatory framework is designed to reduce the number of illegal mining farms, which consume vast amounts of electricity while evading taxes and other legal requirements. Furthermore, those mining as private individuals are exempt from registration as long as their energy consumption remains within set limits. This move is expected to help authorities better monitor and manage the sector, ensuring that only those complying with regulations can continue their mining activities.