Russian Deputy Minister of Finance Ivan Trebeskov I said On Thursday, the country’s mining sector is still largely operating in the shadows, with only 30% of miners registered in federal tax services since President Vladimir Putin has signed a new mining law Summer 2024.
Speaking at the 28th St. Petersburg International Economic Forum (SPIEF), Trebeskov said the goal of introducing mining laws is to bring more transparency and surveillance to the crypto mining sector.
“This process is not yet complete,” Chebeskov said. “This process is not complete yet. You will need to “clean up” another 2/3 and enter it into the register. ”
Following the implementation of the Mining Law at the end of last year, Russian authorities enacted two. A crypto mining-related bill that established legal definitions and registration requirements for mining.
Despite these measures, 70% of miners continue to operate underground.
Chebeskov has shown that the authorities will work to guide the remaining unregistered miners into compliance.
Russia’s Digital Development Ministry is considering increasing the increase in fines for illegal crypto mining operations from 200,000 rubles ($25,500) to 2 million rubles ($25,500), according to Forbes Russia in June. Report.
The Russian government imposed Prohibition of crypto mining Since January this year, in several regions, addressing energy issues and avoiding electricity shortages. The limit will continue until mid-March 2031.