Russia implements new regulations which reshape cryptocurrency mining throughout the national territory. From now on, all people who mine cryptocurrency, like Bitcoin, will need to register their mining equipment with the government starting November 1, 2025. The purpose of this new rule is to make sure that all the mining operations are traced and controlled in the areas where mining is prohibited because of power shortage.
This move is led by the Russian Ministry of Energy, and Deputy Minister Yevgeny Grabchak is at the gap of turning it into a reality. All registered equipment will also be kept in a special database, which is being created by the government. This will force all miners to register officially and make it impossible for them to operate without registration. The news was announced by the state owned news agency TASS.
Aside from the new registry, Russia’s Federal Taxation Service has also set up an online system for miners to declare their incomes. It will make tax payment on digital income of miners easier. This means miners will pay a 13 percent tax on all funds earned up to around $23,976. However, if they bring home more, they will pay 15%. Miners are required to report their income every month on or before the 20th of the following month.
Russia’s effort to control and regulate a burgeoning crypto mining field also ensures that miners obey the law and pay their taxes, which has led to this move. These changes are hoped to bring more order to the sector by the government.
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