Across Russia’s political and economic landscape, the Ministry of Finance has signaled that formalizing cryptocurrency mining is not expected to bring a lot of new revenue. The ministry’s head, Anton Siluanov, outlined this view during a televised briefing, stressing that the priority is clear, predictable rules rather than chasing large profits.
An agreement exists to establish a tax framework for mining this autumn, and officials say that once the rules are in place, mining income could rise. The plan would define how miners are taxed and what obligations they must meet to operate legally within the country.
Under the new framework, mining activity would be treated as cryptocurrency and, according to the law, could serve as a means of payment in trade with foreign partners, bringing digital assets into broader economic use.
In August, President Vladimir Putin signed a law bringing digital currency mining into the legal field. The measure defines key concepts and the obligations for miners, while establishing measures to regulate how cryptocurrencies circulate within the economy.
Industry observers see potential benefits from legalized mining, including support for the economy amid sanctions and the simplification of imports. Analysts suggest that smoother regulatory conditions could expand overseas payments if the regime proves favorable to business and investment.
Earlier, Dmitry Golubovsky, a market analyst, addressed five common myths about mining and clarified what the sector can realistically deliver under clearer rules.