Only 30% Of Russian Crypto Miners Report To Tax Authority
Russia’s cryptocurrency laws have not convinced most mining businesses to register with authorities, as only 30% of the miners have entered the Federal Tax Service Register since late 2024.
The Russian government began enforcing two crypto mining-related bills in October and November 2024, introducing legal definitions and registration requirements for mining businesses.
Still, 70% of the miners remain underground, Finance Ministry official Ivan Chebeskov said, according to a report by local news agency TASS on Thursday.
“When introducing mining regulations, our general approach was to bring this industry out of the shadows as much as possible. We have not yet completed this process,” Chebeskov reportedly said.
