Russia Tightens Penalties for Illegal Crypto Miners!

Jakarta, Pintu News – The Russian government, through the Ministry of Digital Development, Communications and Mass Media, recently proposed strict rules targeting illegal crypto miners. The move comes as an attempt to combat illegal activities related to cryptocurrencies.

With the new rules under interdepartmental review, law enforcement and courts will have the authority to seize cryptocurrencies and impose hefty fines on those involved in unlicensed mining operations.

Tightening of Crypto Mining Regulations

Russia’s Ministry of Digital Development is not only targeting individual miners, but also industrial mining operations that violate state mining regulations. If these rules are approved, there will be significant changes in the way the country deals with crypto-related offenses, particularly those involving unregistered mining activities and participation in illegal mining pools.

In addition, the authority plans to initiate cryptocurrency seizures from industrial mining operations that violate regulations. This marks a serious step in the government’s efforts to regulate the crypto sector, which has been considered a wild west.

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Heavy Fines for Violators

The ministry plans to impose fines of between 1 million and 2 million rubles ($12,728 to $25,456) on corporations convicted of illegal mining. This is part of a proposal to amend the country’s Code of Administrative Offenses. Currently, unregistered individuals can still crypto mine at home provided they keep their energy consumption below 6,000 kWh per month.

In about ten regions, stricter restrictions have been imposed, and individuals with certain criminal records are prohibited from engaging in mining activities. The proposal also aims to penalize crypto transactions conducted outside the Central Bank’s sandbox, with fines of up to 1 million rubles for violators.

Next Steps in Regulation

The new draft law also targets mining infrastructure operators, such as data centers and crypto mining hotel providers, who fail to report their activities to Rosfinmonitoring, Russia’s anti-money laundering watchdog. These operators will be required to disclose details about mined assets and wallet identifiers associated with their operations.

This decision coincides with the recent decision by a government energy commission headed by Deputy Prime Minister Alexander Novak to reject further mining bans in certain regions. While a year-round mining ban has been imposed in parts of Irkutsk, similar proposals for Khakassia, Zabaikalsky Krai, and Buryatia have been shelved for now, signaling a more mature approach to regulating the crypto mining sector in the country.

Conclusion

With these new measures, Russia is showing that it is serious about regulating the rapidly growing crypto industry. By imposing heavy fines and asset seizures, the government hopes to minimize illegal activities and increase transparency in the country’s crypto ecosystem.

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Reference

• AMB Crypto. Russia moves to seize crypto, slap fines on illegal miners under new law. Accessed on June 12, 2025
• Featured Image: Generated by AI