Russia creates cryptocurrency mining registry to regulate sector

• Russia implements national registry for cryptocurrency mining
• Mining equipment will be monitored for energy consumption
• Illegal miners could be fined up to $22

Russia has officially launched a nationwide registry of cryptocurrency mining equipment, a move aimed at imposing taxes and regulations on operations that previously escaped state control. The initiative is already in place in regions with intense mining activity, RIA Novosti reported.

🇷🇺 JUST IN: #Russia launches a national registry for crypto-mining equipment, requiring mandatory registration and better tracking of power use and income. #Crypto #CryptoMining pic.twitter.com/sfKkeSTD39

— Roundtable Network (@RTB_io) July 7, 2025

The system was developed in collaboration with the Russian Ministry of Energy, the Federal Tax Service and the Ministry of Digital Development. The main goal is to accurately map the energy consumption of miners, a strategy that aims to make the activity fully traceable and subject to tax obligations.

The idea of ​​the registry was first proposed in February by the Ministry of Energy, which stated that the new structure will make it difficult for unregistered miners to exist in the country.

Even before the system was officially created, Russian authorities had already banned cryptocurrency mining in six regions as a way to contain the overload on the electricity system. This ban remains in effect until March 15, 2031, reflecting the government's efforts to balance national energy demand with the growth of cryptocurrency operations.

On another regulatory front, the Federal Tax Service has authorized miners to declare their income online following the entry into force this year of a new tax framework approved by President Vladimir Putin. The measure legalizes and imposes tax obligations on mining earnings.

The Ministry of Digital Development, in turn, is preparing a legislative project that will allow the judicial seizure of digital assets and the imposition of severe fines. For companies that operate outside the rules, the penalties can reach 2 million rubles, equivalent to about U.S. $ one thousand 22 .

With these actions, Russia seeks to control a significant portion of its hash rate dedicated to proof-of-work (PoW)-based networks, such as Bitcoin, transferring greater supervision and revenue to the State.