Russia to launch the country level for encryption mining equipment

The Russian Ministry of Energy plans to enter the country level for encryption mining equipment, making registration mandatory for all operations.

According to February 3 a reportThe Deputy Energy Minister YEVINY Grabchak leads the initiative to improve current mining regulations and improve control. This step follows continuous concerns about illegal mining, especially in the banned areas.

The authorities intend to define clearer criteria to determine the regulatory gaps of encryption and the address that allows unregistered operations to prosper. The government said:

“It is important to adapt the law” on mining “with the current situation, in particular, based on practical experience, to formulate clearer criteria for classifying activities specifically as the production of digital currency.”

Despite the previous ban, the unlawful mining in the country is rampant, and implementation proves difficult. Nikolai Schulgagov, head of the Energy Committee in Douma, in the state, acknowledged that the restrictions imposed in many Russian regions have not been completely curbed from unauthorized mining.

Easy tax compliance with mines workers

In a relevant step, the Federal Tax Service in Russia (FNS) provided an online system that allows encryption miners to announce their profits.

Note the report:

“A new job has appeared in the taxpayers’ personal accounts. With the help of the online service, users can now send information about receiving the digital currency to the tax authority.”

according to TasAnyone with a qualified electronic signature will be able to reach this feature. The system provides specific models for tax reporting to individuals, companies and businessmen, and is compatible with the broader efforts to integrate encryption into the economy.

Under Russia An updated organizational frameworkDigital assets are monarchy subject to tax. While encryption transactions are still exempt from value -added tax, mining and trading profits are now facing a 15 % tax rate.

These organizational measures are in line with the government’s broader strategy to integrate encoding into the economy. The largest organizational clarity encouraged companies and individuals to invest in bitcoin mining as well as use Bitcoin and Stablecoins for their transactions.

In 2024, The demand for industrial mining equipment in Russia has increased three times Compared to the previous year.