Crypto Mining Oversight Russia Mandates Reporting

Russia Enforces Crypto Mining Oversight—Miners Must Report Earnings

• Crypto miners in Russia must report earnings by the 20th of the following month.
• The new regulation restricts mining activities to approved entities only.
• Individuals with financial crime offenses are barred from participating in crypto mining.
• The Federal Tax Service (FNS) announced these changes on February 3rd.

Russia has implemented stricter regulations for crypto miners, requiring them to report earnings monthly and limiting operations to approved entities, as announced by the FNS on February 3rd.