Despite new regulations, only 30% of Russian crypto miners have registered with the Federal Tax Service since late 2024, leaving 70% operational underground. The Russian government implemented two crypto mining-related bills in late 2024 to establish legal definitions and registration requirements for mining activities. Ivan Chebeskov from the Finance Ministry acknowledged that the effort to bring underground mining operations into compliance is ongoing. He referenced the intention to introduce stricter penalties for unregistered miners, with proposals to increase fines for illegal operations significantly. Recent enforcement actions have included the shutdown of illegal mining farms, as demonstrated by a recent incident in Bataysk where police seized multiple mining devices. Observers have criticized the new regulations for not fully legalizing the industry, noting they primarily pave the way for better taxation without clear provisions for foreign miners, thereby raising concerns about the legislation's effectiveness.

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