Russia Launches National Registry for Crypto Mining Equipment

Russia has officially launched a national registry for cryptocurrency mining equipment, marking a significant step towards legalizing and regulating the industry. Jointly developed by the Ministry of Energy, the Federal Tax Service (FNS), and the Ministry of Digital Development, the registry has now been rolled out to regions with high mining activity.

Deputy Energy Minister Petr Konyushenko stated in an interview, "The creation of such a registry will allow us to precisely identify consumers using electricity for mining purposes. This is essential for applying special regulations and taxation." He emphasized that the initiative aims to reduce illegal electricity consumption and bring the sector under formal oversight .

The idea of creating a unified mining registry was first proposed during a February working group meeting on crypto regulation. By May, it had gained support from the Ministry of Industry and Trade, further reinforcing Russia's broader efforts to regulate the sector.

Registration and Tax Compliance for Crypto Miners

Under Russian law, businesses and individual entrepreneurs must register their mining operations with the Federal Tax Service. Private citizens are allowed to mine without registration, provided their electricity consumption remains within government-imposed limits. All miners must report their cryptocurrency production to tax authorities, ensuring transparency and compliance with regulations.

Ahead of launching the national registry for crypto mining equipment, Russian authorities imposed mining bans in six energy-constrained regions, with restrictions set to last until March 2031. The move was reportedly aimed at alleviating power shortages caused by unregulated mining.

Separately, in early 2025, the Federal Tax Service introduced an online platform for miners to report their earnings—part of a broader tax compliance framework signed into law by President Vladimir Putin earlier this year.

Regulatory Measures and Penalties for Illegal Mining

In a concurrent effort to manage energy demands and address illegal mining activities, Russian authorities have imposed a six-year ban on cryptocurrency mining in multiple regions, effective until March 15, 2031. This ban is part of a broader strategy to reduce energy consumption and prevent grid overload in high-mining areas.

The Ministry of Digital Development has proposed amendments to the Administrative Code, introducing Article 15.49 to enforce stricter penalties on illegal cryptocurrency mining, as reported by Forbes Russia.

Under this proposal, mining companies found engaging in unauthorized activities could face fines ranging from 1 million to 2 million rubles (approximately $11,000–$22,000 USD). Individual miners and entrepreneurs could also face penalties, ranging from 100,000 to 400,000 rubles, depending on the severity of the violation.

By implementing these measures, Russia aims to regulate its substantial mining hash rates for Proof-of-Work networks like Bitcoin. By combining regulatory oversight with aggressive enforcement, Russia is not only tackling local energy issues but also aiming to formalize and consolidate its substantial role in the global Proof-of-Work mining landscape.