📋 Tender Overview
Only Russian legal entities and individual entrepreneurs included in the register, as well as individuals who do not exceed energy consumption limits, will have the right to engage in mining.
The first reading in the State Duma passed a bill that introduces legal regulation of mining activities ( 237585-8 ).
Requirements for the activities of persons engaged in digital currency mining, including mining pool participants, will be established by the Russian government together with the Central Bank. Roskomnadzor will exercise control (supervision) over this area.
Only Russian legal entities and individual entrepreneurs included in the relevant register, as well as individuals, will have the right to engage in mining. The latter may operate without being included in the register, if they do not exceed the energy consumption limits set by the government. Miners will have to provide the authorized body (Roskomnadzor) with information on the receipt of digital currency as a result of mining, on the address-identifiers. Thus, this activity will be legalized, accountable, and taxable.
The bill directly prohibits the organization of digital currency circulation in the territory of the Russian Federation, except for mining. At the same time, the ban will apply to services for ensuring, among other things, transactions with individuals, only if they are in Russia for more than 183 days within 12 consecutive months (individuals similar to tax residents of the Russian Federation). That is, for those who live abroad more than half the time, it will be possible to organize the circulation of digital currency. We emphasize that the ban only applies to the organization of circulation, and not the circulation of such currency itself. How the authorities will then determine for whom exactly the circulation is organized is unclear. It would be even more accurate to put the question this way: how will the organizer of such circulation be able to determine who became its end client, because confirmation of tax residency even for tax purposes is poorly regulated and in some cases raises questions.
The project also establishes a ban on advertising digital currencies, as well as goods (works, services) necessary for the issue and circulation of such currency, for organizing its issue or circulation. The Cabinet of Ministers will be able to introduce a ban on mining in individual subjects of the Russian Federation or in their individual territories. This will allow for control over energy consumption. It also provides for a ban on combining such activities with activities related to electric power engineering.
It will be allowed to pay with digital currency to the miners themselves for their services. Currently, it is not possible to accept digital currency as a counter-provision (for goods, works, services) or any other method of payment for goods, works, services.
