Russia’s Ministry of Power has compiled a registry of cryptocurrency mining gear, a step officers say will assist establish mining operations and convey them below new regulatory and tax guidelines.
Deputy Power Minister Petr Konyushenko advised state information outlet RIA Novosti the record has been distributed to areas the place mining exercise is excessive.
“The creation of such a register will enable for the exact identification of shoppers utilizing electrical energy for mining,” Konyushenko mentioned, including that the transfer is a part of an effort to legalize the sector and curb unlicensed electrical energy consumption.
The initiative comes after final yr Russia made crypto mining authorized within the nation. Beneath the legislation, companies and entrepreneurs should register with tax authorities to function mining amenities.
Non-public residents can mine with out registering, however provided that they keep inside government-set limits for electrical energy use. No matter measurement, all miners should report how a lot digital forex they produce to the tax service.
The transfer is a part of Russia’s broader embrace of the crypto sector. Simply final week, state-owned conglomerate Rostec, recognized for its function within the nation’s military-industrial advanced, revealed plans to roll out a ruble-pegged token known as RUBx.
