Russia Proposes Criminal Penalties for Illegal Crypto Mining, Administrative Sanctions for Breaches
Deputy Prime Minister Alexander Novak outlined the Cabinet’s plan at a national development council meeting, signaling the start of drafting before any legal changes take effect.
Overview
- The government plan would introduce criminal liability for illegal mining of digital currencies.
- Separate administrative penalties would target violations of existing mining legislation.
- Novak presented the position on December 8 during the Council on Strategic Development and National Projects.
- RIA Novosti reported the proposal as the Cabinet’s intent rather than adopted legislation.
- Novak also noted an effort to toughen penalties up to criminal liability for unlicensed consumer lenders.