Russia begins to establish a national cryptocurrency mining equipment registration system to combat illegal mining activities and increase taxes

On July 7th, according to Cryptonews, the Russian Ministry of Energy has started compiling a national registration system for cryptocurrency mining equipment, aimed at cracking down on illegal mining activities and increasing taxes. The registration system will serve as the central database for all cryptocurrency mining equipment used nationwide, jointly developed by the Department of Energy, the Federal Tax Service, and the Department of Digital Development. Petr Konyushenko, Deputy Minister of Energy of Russia, stated that the system will help authorities "accurately identify" who is using electricity for cryptocurrency mining, ensure miners comply with relevant laws, and increase taxes.