Russia Tightens Oversight on Crypto Mining with New Equipment Registry

Russia's Ministry of Energy has established a registry of cryptocurrency mining equipment, aiming to bring mining operations under regulatory and tax frameworks. Deputy Energy Minister Petr Konyushenko emphasized the registry's role in identifying electricity usage for mining, part of broader efforts to legalize the sector and curb unauthorized power consumption.

The move follows Russia's legalization of crypto mining last year, requiring businesses to register with tax authorities. Private miners remain exempt from registration but must adhere to government-set electricity limits and report digital currency production to tax services.

This initiative aligns with Russia's growing embrace of digital assets, highlighted by state-owned Rostec's recent announcement of a ruble-pegged token, RUBx. The development signals a structured approach to integrating crypto into the national economy while maintaining oversight.