Russia’s Finance Ministry has implemented new regulations that mandate the registration of network IP addresses used for cryptocurrency mining. This move increases government monitoring of legal mining activities.
The official decision to implement this change comes after a recent announcement from the Ministry of Finance. Russia now requires all legal cryptocurrency miners and those who operate mining facilities to register with the Federal Tax Service.
IP Data Extends Technical Disclosure Requirements
Russia’s tax authority keeps separate records of cryptocurrency miners and those who provide infrastructure for mining. Only a limited number of organizations – government agencies, courts, the Central Bank, and power companies – are allowed to view this information. This data is not accessible to the general public.
Including IP addresses in required disclosures broadens the amount of technical information that needs to be shared. Previously, registries mainly collected basic business information. Now, regulators will have a way to track operations at a network level, allowing them to compare what businesses state they’re doing with their actual online activity.
Even after Russia legalized cryptocurrency mining in 2024, it’s been difficult to get all miners to follow the rules. Experts believe the government is losing around $122 million in taxes because many miners are still operating illegally and haven’t registered their businesses.
Violations Trigger Removal from Registry in Russia
Any organization found to have provided false information, broken competition laws, or otherwise acted improperly will be immediately removed from the official registry. Being removed from the registry means a miner or company providing mining services loses the legal ability to operate. Generally, Russian law does not allow mining operations to occur without proper registration.
According to the Ministry of Finance, the new system will help track financial risks, ensure mining operations follow the rules, and monitor their energy use. Power companies are given data from this system because mining uses a significant amount of electricity, which impacts local power grids.
Russia has begun restricting cryptocurrency mining in ten areas facing energy shortages. Since the relevant laws were enacted, the Ministry of Finance has also been tightening regulations to limit unofficial mining activities.
Registry Data Remains Closed to the Public
The system intentionally limits how the registry works. Access to data is only granted to government organizations that demonstrate a legitimate reason. As a result, all monitoring of mining activities happens through official government processes.
A major challenge for Russia in controlling crypto mining will be how well its tax service enforces new rules requiring miners to register their IP addresses. Successfully applying these rules to all unregistered miners will be a crucial test of the government’s oversight.
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2026-05-24 19:09