Russian Crypto Mining: Shocking 70% Remain Unregistered Despite New Laws

Russian Crypto Mining: Shocking 70% Remain Unregistered Despite New Laws

The world of cryptocurrency is constantly evolving, and nowhere is this more evident than in countries grappling with how to integrate digital assets into their existing legal and economic frameworks. Russia, a major player in the global mining scene, introduced new regulations in late 2024 aimed at bringing Russian crypto mining into the legal fold. However, a recent statement from a Finance Ministry official reveals a significant challenge: a …

Only 30% Of Crypto Miners Operate Legally In Russia

Source: Bitcoinist Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Russia’s Deputy Minister of Finance revealed that only one-third of crypto mining firms are operating legally despite the new law requiring mining entities to register with the Federal Tax Service (FTS). Crypto Miners Operating In The Shadows On Thursday, Russia’s state news agency TASS reported that more than half of…

In The Shadows: Two-Thirds Of Crypto Miners Still Unregistered In Russia

Russia’s Deputy Minister of Finance revealed that only one-third of crypto mining firms are operating legally despite the new law requiring mining entities to register with the Federal Tax Service (FTS). Related Reading: US Lawmakers Working On Senate’s Version Of Crypto Market Structure Bill Crypto Miners Operating In The Shadows On Thursday, Russia’s state news […]

CoinStats - Russian Crypto Mining: Shocking 70% Remain Un...

BitcoinWorld Russian Crypto Mining: Shocking 70% Remain Unregistered Despite New Laws The world of cryptocurrency is constantly evolving, and nowhere is this more evident than in countries grappling with how to integrate digital assets into their existing legal and economic frameworks. Russia, a major player in the global mining scene, introduced new regulations in late 2024 aimed at bringing Russian crypto mining into the legal fold. However, a…

Majority of Russian miners are operating outside the law

Efforts to legalize the activities of crypto miners in Russia haven’t been particularly fruitful and only about 30% have so far registered with the country’s tax authority. The assessment comes from the finance ministry in Moscow, which says it’s working to bring the rest of the growing industry out of the shadows, the main purpose of regulating the sector. Majority of Russian miners minting outside the law Less than a third of all Russian entit…