70% of Russian Crypto Miners Remain Unregistered

Most Russian miners haven’t registered with tax authorities despite new crypto laws. Officials plan tougher penalties and enforcement actions.

Most miners ignore legal requirements

Since October 2024, Russia has enforced two laws regulating crypto mining. These laws introduced legal definitions and required registration with the Federal Tax Service. However, only 30% of mining businesses have complied.

According to the Ministry of Finance, about 70% of miners are still operating underground. Ivan Chebeskov, a ministry official, emphasized that the process of legalizing the industry is not complete yet.

Government plans stricter measures

Chebeskov confirmed that efforts to bring miners into the legal framework would continue. While he didn’t specify new policies, previous reports indicated possible increases in fines.

The Ministry of Digital Development proposed raising the penalty for illegal mining from 200,000 to 2 million rubles ($25,500).

Illegal farms face police crackdown

On the same day, law enforcement reported shutting down another illegal farm in the Rostov region. Officers seized 13 mining devices and opened a criminal case under Article 165 of Russia’s Criminal Code.

Analysts say the new laws fail to fully legalize crypto mining. Some also note restrictions for foreign entities and in certain Russian regions, making compliance more difficult.