Catenaa, July 08, 2025- Russia has officially launched a national registry for cryptocurrency mining equipment in a sweeping move to crack down on illegal mining and enforce state oversight.
The registry, developed jointly by the Ministry of Energy, the Federal Tax Service, and the Ministry of Digital Development, aims to regulate energy consumption tied to mining operations and introduce a framework for taxation.
The registry was deployed in regions with high crypto mining activity and is seen as a foundation for new tax and enforcement measures. It builds on earlier efforts, including President Vladimir Putin’s approved tax framework for miners, which came into effect this year.
The Federal Tax Service now allows miners to report their crypto earnings online.
In tandem, authorities have banned crypto mining in six energy-deficient regions through March 2031. The bans are intended to reduce power grid stress while officials implement broader regulatory controls over the crypto sector.
The Ministry of Digital Development is also pushing legislation to authorize courts to seize digital assets from miners who violate regulations. Proposed penalties include fines of up to 2 million rubles (approximately $22,000) for non-compliant mining firms.
Analysts say the initiative signals Moscow’s broader effort to assert control over one of the world’s largest Proof-of-Work (PoW) mining sectors. With Russia’s hash rate among the top globally, the government’s coordinated actions reflect a strategic push to nationalize oversight while addressing growing electricity consumption concerns tied to digital currencies.
