According to ChainCatcher, Sergey Bezdlov, director of the Russian Industrial Mining Association, revealed that about 54,000 BTC were mined in Russia last year, worth more than $3 billion. These mining activities generated about 50 billion rubles (about $556 million) in taxes for the Russian government.
Bezdelov believes that the recent legalization of cryptocurrency mining will increase investor interest and further increase tax revenue. In July, the Russian State Duma passed a bill legalizing Bitcoin mining and allowing the use of cryptocurrencies in international trade. The move established cryptocurrency mining as a legal economic activity, requiring legal entities to register or comply with specific energy consumption limits.
