#RussiaExpandsMinerInfoRequirements 🇷🇺⛏️

Russia is tightening the screws on crypto mining with new info-reporting rules. Here’s what you need to know for Binance Square:

1. What’s changing

Russia’s government finalized rules requiring miners and mining infrastructure operators to report detailed info to authorities. The goal: track who’s mining, how much power they use, and what crypto they produce. 2a94

2. Who’s affected

Legal entities & individual entrepreneurs: Must register with the Federal Tax Service to mine legally. 2a94

Individual miners: Can mine without registering if they stay under 6,000 kWh/month. Go over that limit and you have to register. 2a94

Everyone: Must report wallet addresses and the amount of digital currency mined to Rosfinmonitoring for AML/CFT checks. 4a6a

3. New equipment registry

The Ministry of Energy rolled out a national registry of mining equipment. It’s already distributed to high-mining regions to help spot unlicensed operations and enforce bans. The aim is to stop “gray zone” mining that causes blackouts. 8c4cf6c9

4. Enforcement & penalties

Inaccurate info, repeated AML violations, or mining in banned regions = removal from the registry. 2a94

Companies operating outside the rules face fines up to 2M rubles ∼$22K. 8891

Bans are already active in 6 regions until 2031, including parts of North Caucasus and occupied Ukrainian territories. 6d7c

5. Why it matters

Russia legalized mining in Nov 2024, but now it’s moving fast to formalize and tax the sector. With over 16% of global hashrate, Russia wants to bring miners into the light. abd3ff44

Bottom line: If you’re mining in Russia, compliance just got stricter. Register, report, and watch your power usage.

What do you think - will this push more miners underground or clean up the sector? 👇

Sources: Interfax, Coindesk, RIA Novosti 2a948c4c

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