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Russia Registers Over 5,500 Crypto Miners After November 2024 Legalization Drive
On 21 February 2026, Russian authorities reported that more than 5,500 crypto miners had registered with the Federal Tax Service after mining was legalized on 1 November 2024. From 2025, cryptocurrency is taxed as property, with income from mining subject to personal and corporate profit tax while remaining exempt from VAT. Individuals may mine without registration only below a 6,000 kWh monthly electricity threshold, and draft 2026 rules could introduce fines up to 2.5 million rubles and prison terms of up to five years for large-scale unregistered operations.