The Russian government has started compiling a national registry of cryptocurrency mining equipment

According to Cryptonews, the Russian Ministry of Energy is compiling a national registry of cryptocurrency mining equipment to combat illegal mining and increase taxes. The plan is jointly promoted by the Department of Energy, the Federal Tax Service, and the Department of Digital Development, and the registry will become the central database for mining equipment nationwide. Deputy Minister of Energy Petr Konyushenko stated that the draft has been sent to mining active areas. He stated that this registry enables Moscow to accurately identify the entities using electricity to mine cryptocurrencies domestically, facilitating regulatory and tax authorities to ensure miners comply with the law and helping to increase tax revenue. Konyushenko also stated that this is a measure to promote the legalization of the industry and reduce illegal energy consumption. Currently, there is an increase in legal cryptocurrency mining activities in Russia, but illegal mining is also prevalent, with numerous industrial cryptocurrency mines operating in many parts of the country.