{"id":18258,"date":"2024-11-01T15:31:35","date_gmt":"2024-11-01T13:31:35","guid":{"rendered":"https:\/\/forklog.com\/en\/russia-launches-miner-registry\/"},"modified":"2024-11-01T15:31:35","modified_gmt":"2024-11-01T13:31:35","slug":"russia-launches-miner-registry","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/russia-launches-miner-registry\/","title":{"rendered":"Russia Launches Miner Registry"},"content":{"rendered":"

As of November 1, Russia has implemented a regulation establishing a miner registry under the Federal Tax Service. Deputy Anton Gorelkin shared<\/a> details about the compilation of this list.\u00a0<\/p>\n

The Federal Tax Service will effectively create two lists: individuals directly engaged in mining and operators of mining infrastructure who provide facilities for extraction.<\/p>\n

Only Russian legal entities and individual entrepreneurs included in the registry will be able to legally mine within the country. Individuals are exempt from registration provided they adhere to government-set energy consumption limits.\u00a0<\/p>\n

According to Gorelkin, access to the registry will be strictly official\u2014publication of information is prohibited, and only government agencies can obtain it through the interdepartmental interaction system.\u00a0<\/p>\n

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\u201cThis is entirely justified, as the registry is expected to store quite sensitive data: for example, about the beneficial owners of legal entities, electricity supply points, and addresses of technical equipment used for mining,\u201d the deputy explained.\u00a0<\/p>\n<\/blockquote>\n

The official emphasized that the Federal Tax Service takes the task very seriously, holding meetings with industry representatives and carefully drafting regulations considering their wishes.\u00a0<\/p>\n

The Russian government’s decrees necessary for launching the registry will be published soon.<\/p>\n

Sergey Bezdelyov, Director of the Industrial Mining Association, told Rossiyskaya Gazeta<\/a> that Russia ranks second in the world for mining.\u00a0<\/p>\n

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\u201cJust last year, domestic miners extracted 54,000 BTC worth nearly $3.5 billion. Russia’s leadership is supported by its climate, competitive advantages, and skilled workforce,\u201d he stated.<\/p>\n<\/blockquote>\n

Bezdelyov noted the growing interest in the industry and outlined the approximate costs for making a profit in this market:<\/p>\n

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\u201cOne unit of cryptocurrency mining equipment currently costs about $3,000. To earn passive income, of course, more than one set is needed.\u201d\u00a0<\/p>\n<\/blockquote>\n

He added that Russian miners can receive tax deductions from income tax for equipment depreciation and VAT deductions from the cost of equipment and electricity\u201420%.<\/p>\n

In July, basic regulation of cryptocurrency mining in Russia was adopted. ForkLog examined its impact on the industry in a separate article<\/a>.<\/p>\n

Additional amendments outline the government’s authority to restrict mining in certain areas.<\/p>\n

Earlier, the Russian Ministry of Energy identified regions for future mining bans.<\/p>\n","protected":false},"excerpt":{"rendered":"

As of November 1, Russia has implemented a regulation establishing a miner registry under the Federal Tax Service. Deputy Anton Gorelkin shared details about the compilation of this list.\u00a0 The Federal Tax Service will effectively create two lists: individuals directly engaged in mining and operators of mining infrastructure who provide facilities for extraction. Only Russian […]<\/p>\n","protected":false},"author":1,"featured_media":18257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1451,1137,1700,27],"class_list":["post-18258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-regulation-in-russia","tag-cryptocurrency-mining","tag-registry","tag-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18258"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18258\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18257"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}