MiningRegister

History

2024: Service Launch

On November 1, 2024, it became known that the Federal Tax Service of Russia launched the MiningRegister service to register companies and individual entrepreneurs involved in mining digital currency, as well as mining infrastructure operators.

According to the press service of the Federal Tax Service, the service was created in accordance with the requirements of the federal law "On digital financial assets, digital currency and on amendments to certain legislative acts of the Russian Federation" of July 31, 2020.

𝓲

Freepik

Director of the Industrial Mining Association Sergei Bezdelov notes that the tax service is becoming a single window for mining market participants. The accumulated experience of interaction with the industry and the digital competencies of the department should increase the effectiveness of regulation.

The service allows you to fill out an application for entering into the register of persons engaged in the mining of digital currency, and operators of the mining infrastructure. All applications must be signed with an enhanced qualified electronic signature.

Russian legal entities and individual entrepreneurs receive the right to engage in mining only after inclusion in the corresponding register. A similar requirement applies to mining infrastructure operators.

Miners are obliged to provide the Federal Tax Service with information about the received digital currency and identifier addresses - unique sequences of symbols for accounting for transactions. The tax service may transfer this data to Rosfinmonitoring and the Bank of Russia.

The information entered in the registers is closed and cannot be published in the media or posted on the Internet. The creation of the register is part of the state policy to regulate the digital currency market and ensure transparency of operations in this area.^[1]

Notes