Russia Targets Illegal Crypto Mining with National Registry

- A new national registry seeks to curb unlawful crypto mining and energy misuse. - Stricter fines and regional mining bans are central to Russia’s enforcement strategy. On July 5, 2025 (UTC), Russia’s Ministry of Energy announced a new national registry for cryptocurrency mining equipment, an initiative aimed at addressing illegal mining operations and tax evasion. The Federal Tax Service and the Ministry of Digital Development collaborated on the registry, which marks a critical step toward legalizing and regulating the country’s crypto mining industry. The registry’s primary function is to identify users who consume electricity for mining and apply specialized regulations, including taxation. According to Deputy Energy Minister Petr Konyushenko, the new system will curb unauthorized energy consumption and foster industry legalization. This initiative builds on proposals from February 2025 that aimed to enforce regional mining bans. Although Russia legalized crypto mining in the summer of 2024, many operators continue to work outside the regulated framework; as a result, the registry seeks to streamline oversight and improve compliance with existing laws. As part of a broader crackdown, Russian authorities are drafting legislation to impose heftier fines on unregistered crypto mining. Recent enforcement efforts have exposed large-scale mining farms hidden in unconventional locations like garage complexes and trucks. In addition, authorities enacted temporary and permanent mining bans in regions experiencing power shortages to ensure a stable energy supply. These regulatory measures represent a comprehensive effort to address industry challenges, including tax evasion, unregistered operations, and energy misuse. The initiative not only reshapes Russia’s domestic crypto landscape but could also set precedents for global crypto mining governance. As of July 7, at 12:00 UTC, Bitcoin (BTC) was trading at $31,845, a 1.6% increase in 24-hour trading volume. During the same period, Ethereum (ETH) rose 2.1% to a price of $2,137. Russia’s regulatory developments targeting the crypto mining sector may have influenced these figures.