FNS Launches Online Filing: Miners Must Now Declare Crypto Income

From February 2025, Russia’s Federal Taxation Service (FNS) unveiled a new online system for miners to report their earnings. All individuals and businesses involved in cryptocurrency production must submit data monthly before the 20th. This update affects hundreds of market participants who previously relied on manual paperwork.

According to FNS guidelines, individuals consuming limited electricity below a statutory threshold can skip registry listing. However, organizations engaging in mining must enter an official register. Meanwhile, digital asset transactions remain VAT-exempt, though mining is recognized as “property,” entailing additional obligations.

Analysts welcome the online platform: the procedure becomes more transparent and reduces penalty risks. Observers expect that FNS will tighten monitoring of the illicit sector, since details can be verified automatically. For miners, the electronic approach could prove more convenient than outdated offline forms, experts say.