Russian authorities have compiled a register of mining equipment

What’s new? The Ministry of Energy, together with the Federal Tax Service and the Ministry of Digital Development, Communications, and Mass Communications of Russia, compiled a register of equipment for mining. Deputy Energy Minister Petr Konyushenko said that the register will allow for the identification of consumers who use electricity for cryptocurrency mining.

Material by RIA Novosti

What else is known? Identification will allow for the application of special regulations and taxation to industry participants. The register has already been transferred to regions with increased activity of miners.

“This is a step towards legalizing the industry and reducing illegal consumption,” Konyushenko concluded.

Norwegian authorities will consider a ban on mining amid power supply problems

The proposal will be studied by the government this fall

Read more

The law on regulation of digital currency circulation, which came into force on November 1, 2024, allows legal entities and IEs to engage in mining provided they are included in the register of the Federal Tax Service, while individuals do not need to be included in the register if they comply with the energy consumption limit of 6000 kWh per month.

At the same time, all miners must provide the Federal Tax Service with data on extracted assets.

The law also gave the government the authority to ban mining and participation in mining pools in certain territories. Thus, late last year, the Cabinet of Ministers banned mining in 10 regions until 2031 due to power shortages.

The Industrial Mining Association reported that in the fourth quarter of 2024, demand for industrial mining equipment and services in Russia tripled over the year.

Grinex may become the first regulated crypto exchange in Russia. What’s going on

Russian authorities and representatives of the under-sanctioned exchange are discussing different options for cooperation based on the geopolitical situation

Read more

Cryptocurrencies in the Russian Federation. In May, it became known that Sber would act as a liquidity provider and market maker for Russian-regulated crypto exchanges. The bank also intends to launch an analog of exchange-traded funds (ETFs) based on cryptocurrencies.

In turn, Rostec State Corporation announced the launch of its own payment platform RT-Pay, and RUBx token linked to the ruble on the TRON blockchain.

The authorities are also moving towards the mass introduction of central bank digital currency (CBDC). Thus, by order of the Central Bank, leading Russian banks will add support for the digital ruble on September 1, 2026.