Crypto assets and mining

What is happening

A company is starting to mine on its own capacity or placing equipment with a hosting provider. It has to get onto the Federal Tax Service register, check whether regional restrictions apply, and work out how to report and sell the currency it mines.

A foreign buyer offers to pay in cryptocurrency, or digital assets have landed on the balance sheet after a deal. The question is which settlements are permissible, through which intermediaries, and how to account for them.

The bank has frozen the account after a series of transfers to an exchange or peer-to-peer trades, and the tax office wants explanations for incoming funds. The business has stalled, and the source of the money has to be explained with documents, not assurances.

What the law says

• Federal Law No. 259-FZ of 31 July 2020 "On Digital Financial Assets, Digital Currency and Amendments to Certain Legislative Acts of the Russian Federation" (the DFA Law) governs the issue and circulation of digital financial assets and prohibits Russian companies from accepting digital currency as payment for goods, work or services.
• Since 2024 mining has been legalised by a separate law: on an industrial scale it is carried on by companies and sole traders entered on the Federal Tax Service register, while individuals may mine without registration within a set energy consumption limit. In several regions the Government has imposed full or seasonal bans on mining.
• Since 2025 the Tax Code has expressly treated digital currency as property for tax purposes. Special rules apply to transactions in it and to mined currency, and miners report the currency they receive to the tax authority.
• A law on digital currencies and digital rights adopted in 2026 is moving crypto circulation in stages onto regulated participants listed in Bank of Russia registers and introduces limits for non-qualified investors. Its secondary legislation is still being issued, and we work with it as each piece appears.
• Banks scrutinise crypto transactions under anti-money-laundering rules and may refuse a transaction or restrict service. Such a decision can be challenged before the interagency commission at the Bank of Russia, which requires a complete set of supporting documents.
• Cryptocurrency forms part of a debtor's insolvency estate, and moving money into digital currency shortly before bankruptcy may be challenged under Federal Law No. 127-FZ of 26 October 2002 "On Insolvency (Bankruptcy)".

What we do

• We review your current digital currency and DFA operations and assess which are permissible as they stand and which need restructuring.
• We support entry on the Federal Tax Service miners' register and review hosting, site lease and power supply contracts.
• Together with your accountants we set up tax accounting for crypto transactions and mining, and prepare explanations and objections for the tax authority.
• We structure settlements with foreign counterparties and the issue or acquisition of digital financial assets through information system operators.
• When an account is frozen, we prepare explanations of the source of funds and the chain of transactions for the bank and, if it refuses, an application to the interagency commission.
• We represent the company in disputes with banks, the tax authority and counterparties, and in insolvency cases involving digital assets.

What we will need from you

• A description of the model: where the company's cryptocurrency comes from, and where and through whom it goes.
• Exchange and wallet statements, bank statements, and contracts with exchanges, exchangers and hosting providers.
• For mining: documents for the site and equipment, the power supply contract and consumption data.
• Your accounting policy, tax returns and correspondence with the tax authority for recent periods.
• If the account is frozen: the bank's notices and requests and your replies.