$122 Million in Losses: How Untaxed Crypto Mining is Hurting Russia

Illegal crypto mining operations in Russia are causing the country to lose 10 million rubles, or $122 million, a year from uncollected taxes.   Despite legalizing the sector last year, underground crypto operations are skirting the federal tax authority. Tax Evasion and Hidden Mining Hubs Hundreds of millions of dollars in taxes are evading Moscow’s grasp due to unreported income from illegal crypto mining. Despite Russia legalizing crypto mining in August last year, many informal mining operations continue evading the federal tax authority source: https://beincrypto.com/122-million-in-losses-crypto-mining-russia/