Russia’s Ministry of Energy plans to impose a national register of cryptocurrency mining equipment starting July 7th, 2025. This program aims to set a gold standard for the application of mining equipment. Besides boosting regulatory compliance, an objective of the new approach is to increase transparency in Russia’s growing cryptocurrency mining industry.

The creation of this registry marks a strategic move by the Russian government to regulate the rapidly growing cryptocurrency mining industry. The registry will allow relevant authorities to increase tax collection and encourage more sustainable practices. It would help to alleviate energy shortages frequently caused by illegal mining activities.

The registry would be central to ensuring these new efforts are targeted as accurately as possible toward consumers who use electricity for mining exclusively. This would enable the rollout of tailored regulations and taxation policies specifically for cryptocurrency mining operations. These operations have rarely been subject to the scrutiny of typical energy consumption standards.

"The creation of such a register will allow us to accurately identify consumers using electricity for mining needs. This is necessary in order to apply special regulation and taxation to those." - Petr Konyushenko, Deputy Minister of Energy.

Additionally, the registry will help track and crack down on illegal mining operations, of which Russia has long faced a scourge. By monitoring and registering mining equipment, the government intends to curb illicit operations, boost the legitimacy of the cryptocurrency mining industry, and ensure that all participants adhere to established legal and regulatory frameworks.

This new initiative takes direct aim at Bitcoin and Ethereum miners. Yet they represent the biggest share of the cryptocurrency mining scene. The registry will offer a detailed roadmap of what their members can and can’t do, encouraging greater compliance and transparency.