The Russian government has set a limit on the production of cryptocurrencies by citizens who have not registered an LLC or individual entrepreneur. Russians will be able to mine cryptocurrencies per month without spending more than 6 thousand kWh of electricity. The limit was set by the Russian government on November 1, after Law No. 221 came into force, legalizing mining in Russia.
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For example, in Moscow, with a night tariff of 3.43 rubles per kWh, a miner can pay up to 20 thousand 580 rubles for electricity. And with a single tariff, the maximum is 41 thousand 940 rubles.
If the energy consumption is exceeded, the miner will be able to continue mining only after registering as a legal entity or individual entrepreneur, which will have to be registered in a special register.
The government also determined the procedure for restrictions on mining in regions with energy shortages. The decision in this regard will be made at the Cabinet level after the Ministry of Energy makes proposals at the initiative of the regions. The ban is expected to apply in some regions of southwestern Siberia, the Far East and southern Russia.
Miners will have to provide the Federal Tax Service with information about the digital currency and wallets received.
All requirements for natural and legal persons engaged in mining will be established by the Central Bank in agreement with the government.
Yevhen Prozhyrko
Author:
Ekaterina Strukova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
