Russia Proposes Criminal Penalties for Unregistered Crypto Mining, Up to 5 Years Imprisonment

Russia's Ministry of Justice proposed amendments to the Criminal Code on Monday that would impose fines of up to 1.5 million rubles ($19,000) and as much as two years of compulsory labor for illegal cryptocurrency mining. Mining operations generating large profits could face maximum penalties of five years in prison, 480 hours of compulsory labor and fines of up to 2.5 million rubles, while unregistered organized groups conducting large-scale illegal mining may face fines of up to 2.5 million rubles or five years of compulsory labor or imprisonment. Russian Deputy Finance Minister Ivan Chebeskov said only about 30% of crypto miners in the country were registered and operating legally as of June 19.