Russia Wants to Eliminate Tax Dodgers in Bitcoin Mining: Report

Regulatory Developments in Russia: The Russian government is implementing stricter regulations on cryptocurrency mining, requiring miners to register with the Federal Tax Service, yet only 30% have complied. New laws aim to enhance taxation and control over mining activities while prohibiting foreign nationals from participating.

Impact of Sanctions and Restrictions: Due to ongoing sanctions related to the Ukraine conflict, some exchanges have limited services for Russian citizens, and mining restrictions are enforced in various regions to prevent blackouts. Despite these challenges, there is growing institutional interest in decentralized finance (DeFi) within Russia.