Russian Draft Bill: Prison Unregistered Crypto Mining

Russia's Ministry of Justice has introduced draft amendments to the Criminal Code to penalize unregistered cryptocurrency mining. Penalties for illegal mining could include fines up to 1.5 million rubles and up to two years of forced labor. For activities involving outsized profits, the maximum sentence could escalate to five years in prison or 480 hours of forced labor, along with a fine of up to 2.5 million rubles. This move aims to bring the growing mining industry out of the shadows, as only about 30% of miners have registered as of June. Existing regulations require miners to register and pay personal income tax, although those consuming under 6,000 kWh monthly are treated as physical persons.

(Source：Cointelegraph)