Russia Enforces Crypto Mining Oversight—Miners Must Report Earnings

Russia has introduced a new law requiring cryptocurrency miners to report their earnings by the 20th of the following month. Federal Law No. 259-FZ establishes the legal framework for mining activities and mandates the registration of miners in an official registry managed by the Federal Tax Service (FNS). Reporting is done digitally using qualified electronic signatures. Only approved entities, including mining pool participants, can operate legally, with exclusions for individuals with financial crime convictions or involvement in money laundering activities. The measure aims to combat illegal activities and increase transparency in Russia's cryptocurrency industry. Show Less