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Russian AML Agency Proposes Criminalizing Illegal Crypto Mining
Russian AML Agency Proposes Criminalizing Illegal Crypto Mining
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Russia’s Federal Financial Monitoring Service (Rosfinmonitoring) is pushing to impose criminal liability on illegal cryptocurrency miners, alleging their operations facilitate money laundering. The agency, collaborating with the Finance Ministry and Central Bank, also seeks administrative penalties for offenders.
Deputy Director German Neglyad presented the plan to the Federation Council earlier this month. The proposal gains traction as authorities crack down on unregulated mining activities that potentially undermine financial stability.
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