Russia Targets Unregistered Cryptocurrency Mining with New System Initiative

Russia has launched a national registry system for cryptocurrency mining equipment, aiming to clamp down on unregistered operations. The initiative, developed by the Energy, Digital Development, and Federal Tax agencies, focuses on regions with high mining activity. By tracking electricity consumption, the system lays the groundwork for taxation and regulatory enforcement.

The Ministry of Energy proposed the registry in February to address illegal mining operations overloading the power grid. The database captures detailed equipment information, enabling real-time energy monitoring. Tax authorities will cross-reference this data with miners' income declarations to prevent tariff abuse.

Initially deployed in high hash rate regions like Irkutsk and Krasnoyarsk, the system is set to expand nationwide. Officials claim it will soon make unregistered mining technically unfeasible.