Despite new regulations aimed at bringing Russia’s crypto mining sector under formal oversight, the majority of mining businesses continue to operate outside the legal framework.
As of mid-2025, only 30% of miners have officially registered with the Federal Tax Service, according to Ivan Chebeskov, a top official at the Russian Ministry of Finance.
This leaves roughly 70% of the country’s crypto mining sector unregistered—operating in a legal gray zone despite the introduction of dedicated laws in late 2024.
Russia Enacts Two Key Bills to Regulate Crypto Mining Industry
Two key bills enacted in Russia in October and November 2024 were intended to formalize and regulate the crypto mining industry. These laws established clear definitions for mining operations and laid out mandatory registration and tax obligations.
The government hoped this legal clarity would encourage compliance, boost transparency, and integrate mining more closely into the formal economy.
However, miners have been slow to adopt the new rules, likely due to concerns over increased taxation, regulatory burdens, and the risk of government overreach.
The large number of unregistered operations poses a challenge to Russian authorities, who aim to harness the economic potential of crypto mining while ensuring regulatory compliance.
The gap between regulation and adoption signals that further incentives—or stricter enforcement—may be needed to bring miners into the fold.
Also Read: Russia’s Largest Commercial Bank Launches Bitcoin-Linked Bond Product
Finance Ministry: Crypto Miner Registration in Russia “Still Far from Over”
Ivan Chebeskov, an official at Russia’s Finance Ministry, acknowledged that registering crypto mining companies is “still far from over.”
He emphasized that while some progress has been made—with 30% of miners now listed in the Federal Tax Service Register—a significant 70% remain unregistered.
Chebeskov said that authorities plan to continue working toward full compliance, aiming to integrate the remaining operators into the legal framework.
The registration push follows the enactment of two crypto mining laws in late 2024, which defined mining activities and established legal and tax requirements.
The government sees registration as key to improving transparency, enabling tax collection, and ensuring that the growing crypto mining sector operates within a regulated and accountable structure.
Also Read: Russia’s Central Bank Allows Qualified Investors To Trade Crypto-Linked Products
Chebeskov’s Remarks Coincide with Shutdown of Illegal Crypto Mining Farm
The latest comments from Ivan Chebeskov coincided with a report from Russian law enforcement about the shutdown of yet another illegal crypto mining farm.
This development underscores the government’s ongoing struggle to bring order to the sector, even after enacting new regulations in late 2024.
Despite legal frameworks and registration requirements being introduced, many miners continue to operate outside the law—prompting increased enforcement actions.
Authorities have been actively targeting unlicensed operations, which often evade taxes, overload power grids, and pose cybersecurity risks.
The timing of Chebeskov’s remarks alongside enforcement activity highlights the urgency of the situation and the government’s determination to bring the remaining 70% of unregistered miners into the legal fold through both regulatory and punitive measures.
Also Read: Russia’s Top Crypto Miners Earn $200M in 2024 Despite Nation’s Mining Restrictions
