Russia Expands Information Requirements for Cryptocurrency Miners

Russia's government has broadened the scope of information that miners and mining infrastructure operators must submit to tax authorities, according to Bits Media. The new regulations require the inclusion of network address data for cryptocurrency mining equipment, such as ASIC miners, in the national registry. The Russian Ministry of Finance stated that this measure aims to streamline the regulation of digital asset transactions and the investigation of violations. Additionally, grid operators will be able to more accurately monitor infrastructure loads in areas with high concentrations of mining capacity. Under the law, government agencies, courts, the Russian Central Bank, and grid operators can access information from the miners' registry. The Federal Tax Service is responsible for maintaining the registry of miners and mining infrastructure operators. Current legislation mandates that miners and infrastructure operators, such as mining pools, submit and regularly update information including the manufacturer, model, serial number, algorithm, computing power, power consumption, and operating mode of mining equipment. Furthermore, details about the quantity and type of mined cryptocurrency, mining pools, and links to online statistical data must be provided.