By November 1, all crypto miners in Russia must register their mining equipment, according to state news agency TASS. The report also states that Rosfinmonitoring, the state financial watchdog, will develop a centralized database for this purpose. In other words, unregistered mining will no longer be possible, ensuring that every operation is officially recorded.
This initiative, led by Deputy Energy Minister Yevgeny Grabchak, is part of a broader effort to regulate the sector, particularly in regions where mining is already banned. In November 2024, authorities prohibited crypto mining in six regions due to power shortages, including some occupied areas of Ukraine, even in regions outside Russian control. The ban will remain in effect from December 2024 to March 2031.
Alongside the registry, Russia’s Federal Taxation Service (FNS) has introduced a web platform to help miners report their earnings. Using a qualified electronic signature, miners can now declare their digital currency income through their FNS accounts.
A new taxation system that President Vladimir Putin signed into law at the end of 2024 came into force this year. Miners with profits of up to 2.4 million rubles ($23,976) pay a tax of 13% under the new rules, while those earning more are taxed at 15%. Moreover, from the 20th of each subsequent month, miners must provide a report of their earnings for the previous month.
