Tardy regulation of mining caused Russia’s 14 bn rubles losses in 2018-2024

This figure was disclosed by Anton Sviridenko, executive director of the P.A. Stolypin Institute for the Economy of Growth, who gave a report titled “Mining - from gray to white. No way back” at Crypto Summit 2025. 

As the expert noted, the 259-FZ law adopted in 2024 kicked-off the fight against gray mining. Today, the Russian mining market is gradually approaching the best world standards.

As an example, Anton Sviridenko cited domestic energy production projects for mining, including mining hotels. 

Nevertheless, according to the expert, the share of gray mining in Russia today remains at the level of at least 30%, to reach 35% together with black mining. In the Irkutsk region alone, 7,600 illegal mining farms were found.

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