According to Odaily Planet Daily, the Russian government recently introduced a regulatory framework for cryptocurrency mining, marking the implementation of the law signed by President Putin in August. The law defines cryptocurrency mining as a legal activity, stipulates safety and operational requirements for miners, and creates a structure for trading digital financial assets on specially approved platforms.
Under the new regulations, only registered organizations and individual entrepreneurs can legally engage in cryptocurrency mining. Individuals who are not registered as entrepreneurs are not allowed to use more than 6,000 kWh of electricity per month, and those who exceed the upper limit must register as entrepreneurs.
The regulation also imposes detailed reporting obligations on miners, requiring them to disclose the total amount of digital currency produced and provide the Federal Tax Service with address identifiers for each transaction. This information can only be accessed by law enforcement agencies, ensuring privacy while facilitating supervision. In addition, miners must ensure that their operations meet standards for reliability, safety, and power stability.
