Oleg Ogienko, an advisor to the Russian State Duma's cryptocurrency legislative working group, has proposed an amnesty for crypto miners using illegally imported mining equipment. This initiative aims to encourage miners to legalize their operations and integrate into the regulatory framework. Starting in 2024, Russia will recognize crypto mining as a legitimate business activity, requiring miners with monthly electricity consumption exceeding 6,000 kWh to register with the Federal Tax Service and pay taxes. However, approximately 60% of mining companies have yet to complete registration. Ogienko highlighted that the absence of an amnesty mechanism for illegal equipment is a key reason for the lack of compliance. Currently, only about 150 mining infrastructure operators and 1,300 related entities are registered.
Russian Advisor Proposes Amnesty for Crypto Miners Using Illegal Equipment
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