Russia to Mandate Registration of Virtual Asset Mining Equipment

The registration of virtual asset (cryptocurrency) mining equipment is expected to become mandatory in Russia.

According to CryptoNews on the 7th (KST), the Russian Ministry of Energy announced plans to launch a national registration of virtual asset mining equipment.

This move is interpreted as a measure to crack down on illegal mining within Russia and increase tax revenue.

Petr Konyushenko, Deputy Minister of Energy of Russia, stated, "Through the registration system, Moscow will be able to precisely identify who is using electricity for virtual asset mining across the country," and added, "This is an action to legalize the industry and reduce illegal energy consumption."

However, there were also opposing views within the Russian government. Member of parliament Anton Gorelkin said, "It is unclear how the registration system will specifically help eradicate illegal mining," and argued, "Moscow already has the necessary tools to identify miners who are using electricity illegally."