In July 2025, Russia's Ministry of Energy initiated a national registry for cryptocurrency mining equipment. This move, in collaboration with the Federal Tax Service and the Ministry of Digital Development, aims to regulate the sector and curb illegal activities. The registry seeks to identify and monitor mining operations, ensuring compliance with tax obligations and energy consumption regulations.
Deputy Energy Minister Petr Konyushenko stated that the registry would allow for precise identification of electricity consumers for mining. This follows the legalization of cryptocurrency mining in Russia in November 2024. Businesses and individual entrepreneurs could legally mine digital currencies if they registered with tax authorities.
As of June 2025, approximately 70% of crypto miners in Russia remained unregistered. Rostec, a state-owned conglomerate, unveiled RUBx, a ruble-pegged stablecoin, and RT-Pay, a blockchain-based payment platform. RUBx is built on the Tron blockchain and pegged 1:1 to the Russian ruble.
RT-Pay is designed to facilitate digital payments through smart contracts and integrates with Russia’s existing banking infrastructure. These developments reflect Russia's ongoing efforts to integrate cryptocurrency into its financial system. The goal is to address regulatory and compliance challenges.