⚠️ Mining for a Term. Russia Plans to Imprison for Illegal Crypto Mining

Russia intends to tighten rules for illegal cryptocurrency miners, up to criminal liability. The Russian Ministry of Justice has prepared a draft law. Next up is the State Duma.

The essence of the initiative is to punish mining without official registration. Currently, by law, one can only operate after being included in a special register, but according to the Federal Tax Service, out of approximately 50,000 market participants, only about 1,500 have made it onto the list.

The rest effectively operate outside the legal framework.
⁉️ Eif the law is passed, a new article will appear in the Criminal Code. Income over 3.5 million rubles or causing major damage - a fine of up to 1.5 million rubles, compulsory or corrective labor.

For income exceeding 13 million rubles or working as part of a group, the punishment is up to five years in prison.

Mining is being brought "out of the shadows")

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