Russia has introduced a national registry for cryptocurrency mining hardware, marking a new step in its effort to formalize and regulate the industry.
According to state-run media outlet RIA Novosti, the registry has already been deployed in key regions with high mining activity and is intended to help authorities better monitor energy usage tied to mining operations.
This effort, led jointly by the Ministry of Energy, the Federal Tax Service, and the Ministry of Digital Development, signals an expansion of the country’s broader regulatory oversight of the crypto mining sector.
Government Tightens Oversight Through Energy-Based Tracking and Taxation
The creation of the registry follows previous government moves to curb unregulated mining activity, particularly in areas experiencing strain on power infrastructure.
In February, the Ministry of Energy first proposed the registry as a mechanism to track crypto mining operations through their energy consumption footprint.
Authorities argue that this step is necessary not only for effective taxation but also for managing regional energy stability, especially given the surge in mining linked to Russia’s low electricity costs and favorable climate for mining hardware.
The registry complements several recent policy developments aimed at tightening control over digital asset activities in Russia. Earlier this year, miners were officially given the ability to declare their crypto earnings online through a system implemented by the Federal Tax Service.
This followed the formal enactment of a legal tax framework for crypto mining that was approved by President Vladimir Putin and came into force in 2025. The framework enables authorities to tax mining revenues while providing a legal foundation for enforcement actions.
Mining Bans, Asset Seizures, and the Push Toward Full Compliance
In parallel with these developments, Russian officials have also implemented a multi-year ban on crypto mining in six energy-strained regions.
The ban, which will last until March 15, 2031, is meant to alleviate power shortages caused by unregulated energy-intensive mining farms. Officials have not disclosed the names of all affected regions, but previous reports cited Irkutsk and Dagestan among the high-consumption areas drawing government scrutiny.
Further legislative measures are under development as well. The Ministry of Digital Development has reportedly proposed a new bill that would enable courts to confiscate digital assets and levy significant fines on individuals or entities violating mining rules.
According to Forbes Russia, the maximum fine for corporate entities could reach up to 2 million rubles, or approximately $22,000. While this legislation is still pending, it forms part of a broader attempt to integrate crypto mining into Russia’s official regulatory and economic frameworks.
The country has emerged as one of the world’s leading hubs for proof-of-work mining, particularly for Bitcoin. With its vast energy resources and previously lax oversight, Russia’s share of the global hash rate has grown in recent years.
However, the latest moves suggest a shift toward centralized management, where only registered and tax-compliant mining operations may continue to operate without legal consequence.
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