Russian government introduces limits on private crypto mining
The measures are part of laws recognising mining as a legitimate enterprise if operators comply with the usage cap.
The Russian government has introduced new regulations limiting electricity usage for home-based cryptocurrency miners to 6,000kWh per month. Mining operators exceeding this limit will now need to obtain an individual entrepreneurial licence to continue their operations legally. These measures are part of two crypto mining laws that came into effect on 1 November, which recognise mining as a legitimate enterprise in Russia, provided operators adhere to these usage caps.
For those surpassing the electricity threshold, additional compliance measures are required. These operators must register with the Federal Tax Service and submit details about mined cryptocurrencies, including wallet address details. Government agencies, including the anti-money laundering agency Rosfinmonitoring, will have access to this information, though data from the registry will remain confidential and only available to officials.
The laws also restrict participation based on specific criteria. Operators in regions with local mining bans, individuals who have declared bankruptcy, or those previously violating anti-money laundering regulations will be barred from registering. Experts estimate that while large-scale Russian miners primarily focus on Bitcoin, home-based operators often mine Ethereum, highlighting Russia’s diverse but heavily regulated mining landscape.
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