Mining Infrastructure Operators Required to Report to Tax Authorities

Operators providing mining infrastructure services in Russia are now required to report to tax authorities about their clients-miners. This includes details on the volume of cryptocurrency mined and financial transactions.

According to the new requirements, reports must be submitted quarterly in electronic form. These measures aim to increase industry transparency and combat illegal mining.

Imposing obligations on mining infrastructure operators will help the government monitor tax revenues, as well as prevent money laundering and financing of illegal activities through cryptocurrencies.