Russian Finance Ministry Official: Despite New Law, 70% of Crypto Miners Are Still Unregistered

according to Cointelegraph, Ivan Chebeskov, an official from the Russian Ministry of Finance, revealed that despite the cryptocurrency mining regulations introduced by the end of 2024, 70% of mining companies have not registered with the Federal Tax Service. Two mining laws implemented by the Russian government in October-November last year require companies to complete registration and clearly define the legal framework, but compliance progress has been slow. Chebeskov stated that efforts will be made to legalize the remaining mining companies, but did not disclose specific measures. Industry analysts point out that current regulations have restrictive clauses, such as prohibiting foreign entities from mining in Russia, implementing restrictions in certain regions, and not truly legalizing the industry, with the main role being to improve tax collection and management.