The Russian Ministry of Energy has introduced a nationwide registry for Bitcoin mining equipment to enforce tax regulations and curb unauthorized activity.
According to a report from RIA Novosti, the initiative is the result of a coordinated effort between the Ministry of Energy, the Federal Tax Service, and the Ministry of Digital Development.
Authorities have begun distributing the registry to regions with significant mining activity. Its core aim is to identify operators consuming electricity for crypto mining and subject them to proper regulatory and tax oversight.
Deputy Energy Minister Petr Konyushenko stated that the move is intended to formalize the industry while curbing illegal power consumption. He added that the registry will serve as a tool to track miners currently operating in the shadows.
According to official estimates, only about 30% of crypto miners in Russia have registered their activities. This leaves a significant portion—roughly 70%—outside the reach of existing regulations despite the country’s push to bring the sector under control.
The registry follows an announcement made by the Ministry of Energy earlier this year. At the time, Deputy Minister Yevgeny Grabchak said the new system would enhance transparency and improve enforcement across the mining landscape. It also aims to reduce illegal mining, which has proven difficult to suppress even after Russia implemented a nationwide framework in 2024.
Despite these efforts, challenges remain. The federal government has imposed a six-year ban on crypto mining in ten regions struggling with electricity shortages.
However, enforcement gaps persist, prompting further measures such as this registry.
While the registry aims to tighten controls, concerns remain over the inclusion of wallet addresses, which some experts warn could pose security risks.
Russian lawmaker Anton Gorelkin raised concerns that adversarial nations could exploit the registry to access wallet addresses, potentially leading to unwanted geopolitical consequences, including sanctions targeting these addresses.
Credit: Source link