<p>As of September 2, 2024, a new legal requirement mandates that all crypto mining operations in Russia must be registered with a central regulatory body. This step represents a major shift in how the country handles its rapidly growing mining sector. By the end of the fiscal year, miners will face taxation on their earnings for the first time.</p> 
<p>The move is expected to bring significant changes to the Russian economy. With an anticipated 50 billion rubles ($559 million) in annual tax revenue, the Russian Treasury stands to benefit immensely from these regulatory changes. In 2023, Russian miners extracted 54,000 BTC, equating to approximately $3 billion. This new regulation is expected to formalize and streamline mining operations across the country, providing a major boost to public funds while also ensuring miners adhere to legal frameworks.</p>

Russian Crypto Miners Now Required to Register by Law

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