Russia has started to establish a national cryptocurrency mining equipment registration system to combat illegal mining activities and increase tax revenue.

BlockBeats News, July 7th, according to Cryptonews, the Russian Ministry of Energy has begun developing a national cryptocurrency mining equipment registration system aimed at combating illegal mining activities and increasing tax revenue.

This registration system will serve as a central database for all cryptocurrency mining equipment nationwide, jointly developed by the Ministry of Energy, the Federal Tax Service, and the Ministry of Digital Development. Petr Konyushenko, Deputy Minister of Energy of Russia, stated that the system will help authorities "accurately identify" who is using electricity for cryptocurrency mining, ensuring that miners comply with relevant laws and increase tax revenue.