Russia Tightens Control on Crypto Mining

Russia is tightening its control over cryptocurrency mining by introducing new regulations that require mandatory registration of mining equipment.

The Ministry of Energy is set to roll out a system aimed at tracking and curbing unregistered mining activities, according to reports from TASS news.

The move, championed by Deputy Minister Yevgeny Grabchak, is part of a broader effort to better oversee mining operations, particularly in regions where restrictions are in place.

This initiative comes on the heels of a recent government decision to impose a sweeping ban on crypto mining in select areas.

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Starting in 2025, mining will be entirely prohibited in 10 Russian regions for a period of six years, with the ban lasting until 2031.

This new registration requirement is part of the government’s strategy to tighten regulation and ensure compliance as it moves forward with its ban on cryptocurrency mining.

Alexander Stefanov