Russian Authorities Agree on Draft Law Mining Regulation

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The Ministry of Finance and the Bank of Russia have recently approved the final version of the regulatory framework for individuals and legal entities involved in cryptocurrency mining.

The bill will soon be submitted to the Russian deputies for consideration.

Private crypto miners should be recognized as individual entrepreneurs or included in the category of self-employed Russians. After that, citizens who mine cryptocurrency must pay taxes in accordance with the laws of our country. It is also necessary to form a register of mining companies.

Some believe that crypto mining in Russia should be allowed only in those regions where the energy infrastructure is widely developed and there are no problems with the supply of residents and social and industrial facilities.