Russia Proposes Fines and Confiscation for Illegal Crypto Miners

Russia''s Ministry of Digital Development, Communications, and Mass Media has drafted new rules targeting illegal cryptocurrency miners. The proposal, currently under interdepartmental review, would empower courts to confiscate crypto assets and impose hefty fines on violators.

Individuals caught mining illegally face penalties ranging from 100,000 to 200,000 rubles ($1,272-$2,544). Solo entrepreneurs and officials could be fined up to 400,000 rubles ($5,088), while industrial miners flouting regulations may face fines of 1-2 million rubles ($12,728-$25,456).

The measures extend to participants in illegal mining pools, with authorities gaining broad seizure powers. This crackdown reflects Moscow''s tightening grip on crypto operations amid global regulatory scrutiny of digital asset markets.