Russia targets unregistered crypto miners with new criminal penalties
Russia’s justice ministry proposed fines and prison for illegal crypto mining, as officials say most miners still haven’t joined the tax register.
Russia has proposed a new draft bill seeking to crack down on unregistered cryptocurrency miners in the country, following concerns from the finance minister about illegal mining activity.
Russia’s Ministry of Justice has proposed imposing penalties of up to 1.5 million rubles (about $19,000) and up to two years of forced labor for illegal cryptocurrency mining, according to new draft amendments to the Criminal Code, published on Monday.
For crypto mining activities involving outsized profits, the maximum sentence could reach up to five years in prison, 480 hours of forced labor, and a fine of up to 2.5 million rubles.