Russia, strict penalty proposals for illegal cryptocurrency mining emerge

ImaginaryWhale · 2026-01-30T07:09:59+00:00

A deputy chairman of Russia's State Duma proposed a bill imposing penalties for unauthorized cryptocurrency mining, reflecting tightening regulations on illegal mining activities in the country. The fines vary by offender, indicating a serious approach to address illicit mining and its associated energy consumption issues.

ImaginaryWhale

2026-01-30 07:09:59

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The Deputy Chairman of the Russian State Duma has submitted a bill that includes penalties for unlicensed cryptocurrency mining activities. This proposal indicates a move to strengthen regulations against the rapidly increasing illegal mining activities within the country. It suggests that oversight of the cryptocurrency market in Russia is becoming even more stringent.

Details of the Proposed Fine System

The penalties incorporated into the bill are set progressively depending on the responsible party. Individuals could face fines ranging from 100,000 to 150,000 rubles, public officials involved in illegal mining could be fined between 300,000 and 800,000 rubles, and corporations could be fined from 1 million to 2 million rubles. The way these fines are structured reveals Russia’s recognition of the seriousness of illegal mining and its intention to tighten regulations through a hierarchical approach.

Background and Purpose of Russia’s Cryptocurrency Mining Regulations

The background of this regulation includes issues such as increased energy consumption and waste of electricity resources caused by unauthorized mining within Russia. The primary goal of this bill is to establish a crackdown and monitoring system for illegal mining operations, thereby maintaining order in the currency market and ensuring the proper distribution of electricity resources.

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