Oleg Ogienko Proposes Amnesty for Russia’s Illegal Crypto Mining Equipment

According to Oleg Ogienko, granting amnesty to miners with unregistered gear could improve tax compliance and bring 60% of operators under Russia’s crypto regulation framework.

Summary

At the Digital Almaz forum, Oleg Ogienko, advisor to Russia’s State Duma crypto regulation group, proposed granting amnesty to miners using illegally imported mining equipment. He argued this would allow the integration of these miners into Russia’s legal framework, enabling them to register operations and comply with regulations. Since 2024, Russia requires miners consuming over 6,000 kWh monthly to register, but approximately 60% of operators remain unregistered. Ogienko’s proposal targets this group to boost compliance and tax contributions.

Terms & Concepts
  • Crypto mining: The process of validating blockchain transactions and creating new cryptocurrency units using computational hardware.
  • Mining equipment: Specialized hardware used to perform cryptocurrency mining operations, often designed for efficiency in processing blockchain data.
  • Digital Almaz forum: A technology-focused event where industry experts discuss developments in digital assets and related regulatory issues.