Russia Bans Unauthorized Crypto Mining Penalties

Russia Proposes Strict Penalties for Unregistered Crypto Mining

• The Russian Ministry of Justice has proposed amendments to the Criminal Code targeting illegal crypto mining.
• Fines for unregistered mining activities could reach up to 1.5 million rubles.
• Offenders may face up to two years of compulsory labor, with penalties escalating to five years in prison for significant profits or organized crime involvement.
• Regulated mining was legalized in Russia in November 2024, requiring miners to register with the Federal Tax Service.
• Over 1,000 miners have already registered under the new regulations.

The Russian Ministry of Justice is introducing severe penalties for unauthorized crypto mining, including fines and potential imprisonment, as part of efforts to regulate the sector.