Legal and regulatory framework

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Russia’s national crypto mining registry is part of a broader legal framework adopted in 2023 to regulate the cryptocurrency mining sector

Russian Ministry of Digital Development has drafted legislation that would allow courts to seize digital assets and impose fines of up to 2 million rubles (around $22,000 USD) on companies that violate crypto mining regulations

Russia introduced a 15% tax on crypto mining profits based on the market value of mined assets, alongside removing VAT on crypto purchases to encourage transparency

Under Russia’s 2023 crypto mining framework, individuals can mine without registration if they stay within government-set energy limits, while businesses and sole proprietors must register with the Federal Tax Service

Anton Gorelkin, a Russian lawmaker and one of the architects of the country’s crypto mining laws, criticized the national crypto mining registry, questioning its effectiveness in combating illegal mining

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