Russia Struggles to Regulate Crypto Mining Despite New Laws
Despite implementing new crypto mining regulations in late 2024, Russia has struggled to bring its vast mining sector into the legal fold. According to Finance Ministry official Ivan Chebeskov, only 30% of the country’s crypto miners have registered with the Federal Tax Service, leaving the majority, nearly 70% operating without
Russia Cracks Down on Rogue Crypto Mining Amid Power Theft Surge
Russian authorities have uncovered an illegal mobile crypto mining operation hidden inside a KamAZ truck in the Republic of Buryatia. According to a report from state-owned news outlet TASS, the operation was discovered during a routine inspection of local power lines in the Pribaikalsky District. The mining rig was illegally
Russia Plans State-Run Crypto Exchange for Elite Investors
Russia is preparing to launch a government-regulated cryptocurrency exchange aimed exclusively at highly qualified investors. Spearheaded by the Ministry of Finance (Minfin) and the Central Bank of Russia (CBR), the move is part of a controlled effort to bring crypto transactions under legal oversight, especially for cross-border settlements amidst sanctions.
Russia Embraces Bitcoin for Global Trade
As Western sanctions tighten their grip on Russia, the country is turning to Bitcoin and other cryptocurrencies to settle international trade payments. This move, confirmed by Russian Finance Minister Anton Siluanov, highlights the growing role of digital assets in bypassing geopolitical restrictions. Circumventing Sanctions with Bitcoin Russia has faced stringent
Russia Imposes Six-Year Crypto Mining Ban in 10 Regions
Russia is set to enforce a six-year ban on cryptocurrency mining across 10 regions, with partial seasonal restrictions in key mining hubs. The regulations aim to address energy concerns while maintaining mining activity in strategic areas. Complete Ban in 10 Region Starting January 1, 2025, cryptocurrency mining will be entirely
