Recent data indicates that 70% of Russian miners continue to operate unregistered despite new laws introduced in late 2024. This raises concerns among authorities and threatens tax revenues.
Regulation of the Mining Industry in Russia
In late 2024, new cryptocurrency laws were introduced in Russia, mandating registration for mining companies. The regulations aimed to structure the mining industry.
Reasons for Unregistered Operations
Many enterprises choose to operate without registration, risking potential fines and asset seizures. According to Ivan Chebeskov of the Ministry of Finance, '70% of mining enterprises are still operating underground and have not completed their registration.'
Global Trends and Conclusions
The 2024 regulations in Russia echoed previous measures in Kazakhstan, which also faced challenges with effective miner registration. Experts note that regulatory attempts often lead to increased informal activity, complicating compliance.
The issues surrounding miner registration in Russia raise questions about the essence of regulation in this sector and challenge the effectiveness of new laws.
