Proposal for Amnesty Policy for Russian Cryptocurrency Miners Using Illegal Equipment

According to PANews, a proposal has been made by Oleg Ogienko, a member of the Russian State Duma's cryptocurrency regulation working group, at the Digital Almaz forum. The proposal suggests implementing an amnesty policy for cryptocurrency miners using illegally imported equipment. This initiative aims to transition approximately 60% of the country's underground miners to legal operations. Ogienko highlighted that although Russia has legalized mining this year, the absence of amnesty provisions for illegally imported equipment hinders miners from registering with the Federal Tax Service. Currently, only about 150 mining farms and 1,300 mining entities are registered nationwide. Regions with abundant electricity, such as Siberia, are experiencing power shortages due to the concentration of mining farms, leading to mining bans in over ten regions this year. Russian law enforcement and power companies are conducting nationwide raids, using technology to locate illegal mining operations. The proposed amnesty aims to integrate underground miners into the regulatory framework, alleviate enforcement pressures, and increase tax revenue.