Russian Finance Ministry official: Despite new laws, 70% of cryptocurrency mining companies remain unregistered According to Cointelegraph, Russian Finance Ministry official Ivan Chebeskov revealed that despite the introduction of cryptocurrency mining regulations by the end of 2024, 70% of mining companies are still unregistered with the Federal Tax Service. The two mining laws implemented by the Russian government in October and November last year require companies to complete registration and clarify legal definitions, but compliance progress has been slow. Chebyskov stated that he will promote the legalization of the remaining mining companies, but did not disclose specific measures. Industry analysts pointed out that there are restrictive clauses in the current regulations, such as prohibiting foreign entities from mining in Russia and implementing restrictions in some regions, and the industry has not been truly legalized. Its main function is only to improve tax collection and management.