The Russian State Duma has passed a law regulating cryptocurrency mining, effective November 2024. Key points include:
⚫ Only Russian legal entities and individual entrepreneurs in the Ministry of Digital Development’s registry can mine crypto
⚫ Individuals without entrepreneur status can mine within set energy consumption limits
⚫ Government can ban mining in certain regions
⚫ Penalties include power reduction or disconnection for non-compliance
⚫ Miners must report mined cryptocurrency and identifier addresses
⚫ Cryptocurrency advertisements and public offerings are banned