The focus is on the Russian Energy Ministry of National Register for Crypto Mining facilities: Fight against illegal mining and strengthening tax revenue in the focus

The focus is on the Russian Energy Ministry of National Register for Crypto Mining facilities: Fight against illegal mining and strengthening tax revenue in the focus

Russian Energy Ministry starts national register for crypto mining systems

The Russian Energy Ministry has launched a national register for crypto mining systems. This measure aims to combat illegal mining in the country and increase tax revenue.

Lately, the Russian government has increasingly focused on regulating the cryptoma market. The new register is intended to create a clear overview of the mining systems operated in the country. This initiative enables the authorities to better monitor legal and illegal activities in the field of crypto mining.

Another aspect of this measure is to improve the tax revenue. By registering the mining systems, operators should be obliged to properly tax their profits. This is considered an important step to increase the income of the state and at the same time to promote legality and transparency in the crypto sector.

The implementation of the national register struggles to create a regulated environment for the use of cryptocurrencies and at the same time minimize the potential risks of illegal mining. It remains to be seen how effective this measure will be and what influence it will have on the crypto industry in Russia.