Russian Deputy Minister of Finance Ivan Trebeskov I mentioned On Thursday, the nation's mining sector remains to be largely working within the shadows, with solely 30% of miners registered in federal tax providers since President Vladimir Putin has signed a brand new mining legislation Summer time 2024.
Talking on the twenty eighth St. Petersburg Worldwide Financial Discussion board (SPIEF), Trebeskov mentioned the aim of introducing mining legal guidelines is to deliver extra transparency and surveillance to the crypto mining sector.
“This course of will not be but full,” Chebeskov mentioned. “This course of will not be full but. You will have to “clear up” one other 2/3 and enter it into the register. ”
Following the implementation of the Mining Regulation on the finish of final yr, Russian authorities enacted two. A crypto mining-related invoice that established authorized definitions and registration necessities for mining.
Regardless of these measures, 70% of miners proceed to function underground.
Chebeskov has proven that the authorities will work to information the remaining unregistered miners into compliance.
Russia's Digital Growth Ministry is contemplating rising the rise in fines for unlawful crypto mining operations from 200,000 rubles ($25,500) to 2 million rubles ($25,500), based on Forbes Russia in June. Report.
The Russian authorities imposed Prohibition of crypto mining Since January this yr, in a number of areas, addressing power points and avoiding electrical energy shortages. The restrict will proceed till mid-March 2031.
