A key aspect of the legislative regulation of mining will be the introduction of a cryptocurrency miners registry. This was announced by Anton Gorelkin, Deputy Chairman of the State Duma Committee on Information Policy, Information Technology, and Communications, on his Telegram channel.
The registry will be maintained by an authorized government body, with the Ministry of Digital Development or the tax service being potential candidates.
It is anticipated that the requirements imposed on registry participants will prevent unscrupulous players from entering the market.
According to Gorelkin, the draft laws on mining and experimental legal regimes for cryptocurrencies are expected to undergo significant changes.
“The draft laws may need to be reintroduced, but I hope this will happen in the spring session,” the deputy stated.
Meanwhile, Anatoly Aksakov, head of the State Duma Committee on Financial Markets, revealed that the adoption of the cryptocurrency law is being delayed by a decision from a single agency. He did not provide details “for tactical reasons.”
The regulatory bill for the industry has been registered in the Russian State Duma since mid-November 2022. It requires individuals and legal entities to report mined cryptocurrencies to the tax service, specifying the address of accrual. Its adoption is expected in 2024.
The tax potential of mining in Russia, with the introduction of balanced regulation, is estimated at 50 billion rubles annually after 2025.