The Russian Ministry of Energy has developed a comprehensive registry of cryptocurrency mining equipment, a measure intended to facilitate the identification of mining operations and subject them to newly established regulatory and tax frameworks. Deputy Energy Minister Petr Konyushenko revealed to state news agency RIA Novosti that the registry has been disseminated to regions with high levels of mining activity.
"The establishment of this registry will enable the precise identification of electricity consumers engaged in mining activities," Konyushenko stated, emphasizing that this initiative is part of a broader effort to legitimize the sector and curb unauthorized electricity consumption. This development follows the legalization of crypto mining in Russia last year, which mandates that businesses and entrepreneurs register with tax authorities to operate mining facilities legally. While private individuals are exempt from registration if they adhere to government-imposed electricity usage limits, all miners, regardless of scale, are required to report their digital currency production to the tax authorities.
This move is indicative of Russia's growing acceptance of the crypto sector, as exemplified by the recent announcement by state-owned conglomerate Rostec, a key player in the country's military-industrial complex, to launch a ruble-pegged token known as RUBx.