No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Saturday, October 25, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Cryptocurrency

Only 30% Of Russian Crypto Miners Report To Tax Authority

by TheAdviserMagazine
4 months ago
in Cryptocurrency
Reading Time: 2 mins read
A A
Only 30% Of Russian Crypto Miners Report To Tax Authority
Share on FacebookShare on TwitterShare on LInkedIn



Russia’s cryptocurrency laws have not convinced most mining businesses to register with authorities, as only 30% of the miners have entered the Federal Tax Service Register since late 2024.

The Russian government began enforcing two crypto mining-related bills in October and November 2024, introducing legal definitions and registration requirements for mining businesses.

Still, 70% of the miners remain underground, Finance Ministry official Ivan Chebeskov said, according to a report by local news agency TASS on Thursday.

“When introducing mining regulations, our general approach was to bring this industry out of the shadows as much as possible. We have not yet completed this process,” Chebeskov reportedly said.

Regulators pledge to push further registrations

Chebeskov said registering Russian mining companies is “still far from over,” adding that authorities will work to bring the remaining 70% into the legal fold.

“We will work to complete this process,” he said.

While Chebeskov did not mention any specific planned measures for encouraging miners to register their operations, earlier reports suggested Russia might consider more stringent penalties for illegal miners.

On June 9, Forbes Russia reported that Russia’s digital development ministry was working on a new bill to increase the fines for illegal crypto mining operations to 2 million Russian rubles ($25,500) from the current 200,000 rubles.

Enforcement takes action against illegal miners

The latest comments from Chebeskov came on the same day as Russian enforcement reported on shutting down another illegal mining farm in Russia’s Rostov region.

Police discovered a mining farm in a garage complex in the city of Bataysk, seizing equipment including 13 crypto mining devices, an official representative of the Russian Ministry of Internal Affairs reported on Thursday.

Local investigators have opened a criminal case on the grounds of a crime under Article 165 of Russia’s Criminal Code, the official said.

Related: BlackRock’s Bitcoin ETF futures debut in Moscow as fund hits top 25

Many local market observers criticized the crypto mining laws adopted in Russia in late 2024, with some arguing that they failed to fully legalize crypto mining in the country.

“No new clear regulations are introduced, it only paves the ground for more precise taxation,” BestChange chief analyst Nikita Zuborev told Cointelegraph last year.

Some attorneys also noted that the new crypto mining laws in Russia introduced a number of restrictions, such as prohibiting foreign persons from mining in the country and imposing mining restrictions in several regions.

Magazine: Arthur Hayes doesn’t care when his Bitcoin predictions are totally wrong



Source link

Tags: AuthorityCryptoMinersReportRussiantax
ShareTweetShare
Previous Post

Stocks Stall as Fed Signals End of 0% Era and Higher Long-Term Rates

Next Post

Swedish EV maker Polestar charges up with €174M equity investment: Know more

Related Posts

edit post
Polymarket Confirms Token Airdrop, But US Launch Is Priority — Details

Polymarket Confirms Token Airdrop, But US Launch Is Priority — Details

by TheAdviserMagazine
October 25, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure According to the firm’s Chief Marketing Officer...

edit post
White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC

White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC

by TheAdviserMagazine
October 25, 2025
0

White House crypto czar David Sacks has shown his support for Donald Trump’s nomination of SEC crypto counsel Michael Selig...

edit post
US Representative reveals up to K Bitcoin exposure

US Representative reveals up to $30K Bitcoin exposure

by TheAdviserMagazine
October 25, 2025
0

Key Takeaways US Representative Marjorie Taylor Greene reported up to $30,000 in spot Bitcoin ETF investments. The information comes from...

edit post
UK crypto investors face crackdown on unreported gains 

UK crypto investors face crackdown on unreported gains 

by TheAdviserMagazine
October 25, 2025
0

For years, many UK crypto holders have flown under the HMRC tax authority’s radar. They convinced themselves that digital assets...

edit post
Bitcoin Liquidity Hits Seven-Year Low As Accumulators Stack 373,700 BTC In A Month

Bitcoin Liquidity Hits Seven-Year Low As Accumulators Stack 373,700 BTC In A Month

by TheAdviserMagazine
October 25, 2025
0

Bitcoin (BTC) liquidity is drying up fast, as the metric recently hit a seven-year low, reaching around 3.12 million BTC,...

edit post
Custodia and Vantage Deliver Tokenization Directly Inside Everyday Banking Systems

Custodia and Vantage Deliver Tokenization Directly Inside Everyday Banking Systems

by TheAdviserMagazine
October 25, 2025
0

U.S. regional banks are charging into a new era of digital finance with a powerful blockchain breakthrough that merges traditional...

Next Post
edit post
Swedish EV maker Polestar charges up with €174M equity investment: Know more

Swedish EV maker Polestar charges up with €174M equity investment: Know more

edit post
US Dollar Strength and Oil Surge: A Fragile Mix for Global Equities

US Dollar Strength and Oil Surge: A Fragile Mix for Global Equities

  • Trending
  • Comments
  • Latest
edit post
77-year-old popular furniture retailer closes store locations

77-year-old popular furniture retailer closes store locations

October 18, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
What to Do When a Loved One Dies in North Carolina

What to Do When a Loved One Dies in North Carolina

October 8, 2025
edit post
Another Violent Outburst – Democrats Inciting Civil Unrest

Another Violent Outburst – Democrats Inciting Civil Unrest

October 24, 2025
edit post
Probate vs. Non-Probate Assets: What’s the Difference?

Probate vs. Non-Probate Assets: What’s the Difference?

October 17, 2025
edit post
California Attorney Pleads Guilty For Role In 2M Ponzi Scheme

California Attorney Pleads Guilty For Role In $912M Ponzi Scheme

October 15, 2025
edit post
Trump adds 10% tariff on Canada due to TV ad, but IEEPA doesn’t allow its use against ‘information’

Trump adds 10% tariff on Canada due to TV ad, but IEEPA doesn’t allow its use against ‘information’

0
edit post
Are You an Average Retiree? Find Out if You Are Richer, Poorer or Right on The Money Compared to the Typical American

Are You an Average Retiree? Find Out if You Are Richer, Poorer or Right on The Money Compared to the Typical American

0
edit post
One more regional airline files for Chapter 11 bankruptcy

One more regional airline files for Chapter 11 bankruptcy

0
edit post
Home Prices Could “Stall” for Years

Home Prices Could “Stall” for Years

0
edit post
How to Recognize Critical Race Theory

How to Recognize Critical Race Theory

0
edit post
US Representative reveals up to K Bitcoin exposure

US Representative reveals up to $30K Bitcoin exposure

0
edit post
Trump adds 10% tariff on Canada due to TV ad, but IEEPA doesn’t allow its use against ‘information’

Trump adds 10% tariff on Canada due to TV ad, but IEEPA doesn’t allow its use against ‘information’

October 25, 2025
edit post
One more regional airline files for Chapter 11 bankruptcy

One more regional airline files for Chapter 11 bankruptcy

October 25, 2025
edit post
Trump hits Canada with an extra 10% duty because anti-tariff ad didn’t come down immediately

Trump hits Canada with an extra 10% duty because anti-tariff ad didn’t come down immediately

October 25, 2025
edit post
Meet Heidi Hallmark: A Bookkeeper Helping Women Find Peace of Mind in Their Finances

Meet Heidi Hallmark: A Bookkeeper Helping Women Find Peace of Mind in Their Finances

October 25, 2025
edit post
Scale AI Veteran Bilal Abu-Ghazaleh Launches 1001 With  Million To Rebuild The Physical World Through Artificial Intelligence

Scale AI Veteran Bilal Abu-Ghazaleh Launches 1001 With $9 Million To Rebuild The Physical World Through Artificial Intelligence

October 25, 2025
edit post
Polymarket Confirms Token Airdrop, But US Launch Is Priority — Details

Polymarket Confirms Token Airdrop, But US Launch Is Priority — Details

October 25, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Trump adds 10% tariff on Canada due to TV ad, but IEEPA doesn’t allow its use against ‘information’
  • One more regional airline files for Chapter 11 bankruptcy
  • Trump hits Canada with an extra 10% duty because anti-tariff ad didn’t come down immediately
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.