Tuesday, November 12, 2024 – The Russia government capped the monthly energy consumption of unregistered Russians of individual entrepreneurs (IE) to 6,000 kWh, Tass media reported on November 1.
The specified registration that will be executed by the Federal Tax Service would enable individuals and organizations to obtain the license as a prerequisite for legalized mining operations, effective November 1.
In the case of exceeding the imposed limit, it is mandatory for private miners to be registered as individual entrepreneurs to proceed with mining operations.
Miners are subjected to providing the credentials from where the crypto was received with credited wallet address details to the department, Tass reported.
The publication of the information on the register has been prohibited as it could include sensitive information.
Further, exclusive permission has been granted to the government agencies to access the register via the interdepartmental cooperation system.
If required, in the event of an inquiry or an investigation, a crypto wallet address can be transferred to relevant authorities, namely Rosfinmonitoring, the Federal Security Service, and the Federal Property Management Agency.
The violation of the law implemented on November 1 would result in the exclusion of the miner, documents said.
The provisions of the law on digital currency, along with its amendments, came into force on November 1.
Those who work in the electric power industry and miners with black marks on the field are deprived of mining operations.
