Russia Targets Grey and Black Bitcoin Mining Operations Amid Legalization

Following the legalization of cryptocurrency mining for companies listed in a special registry, Anton Gorelkin, a deputy in the Russian Duma, hinted at upcoming government action to combat “grey and black” mining operations. These operations, which often operate outside legal and regulatory frameworks, pose challenges to both Russia’s energy grid and the newly legalized mining industry.

The new Russian law, signed in August 2024, sets strict regulations for companies wishing to engage in Bitcoin mining, focusing on those listed in the government’s special registry. Gorelkin’s statement signals a crackdown on unregistered and unregulated mining, which has been blamed for energy theft and environmental damage. Russia’s approach seeks to ensure that the benefits of mining are reaped by the legal operators adhering to the nation’s rules.