There are certain subtleties for legal entities and individual entrepreneurs.
New rules for cryptocurrency mining will come into force in Russia on November 1, 2024. The corresponding law was adopted by the State Duma. Russian legal entities and individual entrepreneurs included in the special register of the Ministry of Digital Development will be able to engage in mining. Russians who do not have the status of individual entrepreneurs will also be able to engage in mining without registering in the register, but on the condition that they do not exceed the energy consumption limits set by the government.
The law prohibits cryptocurrency mining by individual entrepreneurs and heads of legal entities who have an unexpunged or unexpunged conviction for economic crimes, crimes against state power, as well as intentional crimes of medium gravity, serious and especially serious crimes. In addition, persons included in the list of terrorists and extremists will not be able to engage in mining.
Legal entities and individual entrepreneurs are prohibited from combining mining with activities in the electric power industry (electric power transmission, operational dispatch control, production or purchase and sale of electricity). The Russian government has received the right to establish additional requirements for the activities of miners, including for participants in mining pools, as well as to impose a ban on mining in certain regions or on their territories.
Miners are required to provide information about the mined cryptocurrency and its identifier addresses to the government-authorized body. This information will be transferred to Rosfinmonitoring and the Bank of Russia. The law comes into force 10 days after its official publication.
