Russia has approved penalties for illegal cryptocurrency mining: fines of up to $31,000 or imprisonment
The Russian State Duma has passed a bill in its first reading that introduces criminal liability for the illegal mining of cryptocurrencies.
This was reported by the Russian State Duma.
The document introduces a new article into the country’s Criminal Code. Miners and operators of mining infrastructure will be required to register in special state registries. For violations, if the activity generated significant revenue or caused harm, a fine of up to 1.5 million rubles is provided—that is approximately $18,700.
If the case involves an organized group or particularly large losses, the punishment is increased—a fine of up to 2.5 million rubles (approximately $31,200) or up to five years in prison.
The bill also provides for the confiscation of property obtained through illegal mining. At the same time, if the parties involved voluntarily compensate for the damages, they may be exempted from criminal liability.
In Russia, there is a trend toward a reduction in the number of employees across various sectors, including IT, healthcare, logistics, manufacturing, retail, consulting, and other business services.
The Russian Ministry of Finance forecasts a sharp increase in regional budget deficits to $21 billion.
