Russia has implemented new regulations requiring crypto miners to report their earnings and restricting mining to approved entities. Taxpayers involved in digital currency mining can now declare their cryptocurrency earnings through their personal accounts, with a deadline of the 20th of the following month. This new feature allows individuals and businesses to file reports more efficiently and in adherence to established regulations. The oversight of the Register of Persons Mining Digital Currency falls under the Federal Tax Service, with certain individuals and entities barred from engaging in mining, including those with criminal convictions for financial crimes and entities failing to meet business integrity standards. These regulations aim to curb illegal financial activities within the cryptocurrency sector while ensuring that only eligible participants can legally mine digital currency.



Other News from Today