Key Takeaways
- The Russian Ministry of Justice has put forward amendments to the Criminal Code introducing stringent penalties for illegal crypto mining.
- Fines for illegal mining could reach up to 1.5 million rubles, or offenders may face up to two years of compulsory labor.
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Russia’s Ministry of Justice has proposed criminal penalties, including prison, for entities that mine crypto without being registered with the government, according to a new report from Interfax.
Russia legalized regulated mining in November 2024, and miners must register with the Federal Tax Service. Over 1,000 miners have already registered.
Under the proposal, offenses could result in fines up to 1.5 million rubles or two years of compulsory labor, with penalties escalating to five years in prison for major profits or involvement in organized crime.
These measures are part of drafts published on Russia’s official legal and regulatory draft portal, aiming to regulate and control the burgeoning sector.