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

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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 crypto mining companies are still operating without registration with the Federal Tax Service. According to the report, Deputy Minister of Finance Ivan Chebeskov stated that only 30% of miners have registered since the new law came into effect in November 2024.

For context, the Russian government approved a law in August of last year to legalize crypto mining in the country.

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