The Russian Ministry of Energy has compiled a register of cryptocurrency extraction equipment, according to a step that managers will help identify mining operations and put them under new regulatory and tax rules.
Vice-Minister of Energy, Petr Konyushenko, told Ria Novosti, the list of newspapers in the state had been distributed to regions where mining is high.
“The creation of such a register will allow the precise identification of consumers using electricity for mining,” said Konyushenko, adding that this decision was part of an effort to legalize the sector and limit electricity consumption without license.
The initiative comes after last year, Russia has produced a cryptographic extraction program in the country. Under the law, companies and entrepreneurs must register with tax authorities to operate mining facilities.
Privates can operate without registering, but only if they remain within the government’s limits for electricity consumption. Whatever the size, all minors must report the digital currency they produce in the tax service.
This decision is part of the broader embrace by Russia in the cryptography sector. Last week, the Rostec state conglomerate, known for its role in the country’s military-industrial complex, revealed plans to deploy a ruble pie token called Rubx.
