Russian Tax Service Proposes Creating Miner Registry for Industry Transparency

The Federal Tax Service (FTS) of Russia has proposed the creation of a national registry of miners to ensure transparency and legality in the cryptocurrency industry. According to FTS data, over 5,000 miners operate in Russia, but only 20% are officially registered.

Establishing the registry will allow the government to monitor cryptocurrency turnover and more effectively collect taxes on miners’ income. Registration is expected to be mandatory, with fines up to 2 million rubles for non-compliance.

Experts believe this measure will attract additional investments of $500 million and increase trust in the Russian crypto market.