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Russia Threatens Crypto Operators with Hefty Fines on Illegal Payments and Mining
Russia Threatens Crypto Operators with Hefty Fines on Illegal Payments and Mining
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BTCCSquare news:
Russia is tightening its grip on cryptocurrency operations, proposing severe penalties for illegal payments and mining activities. The draft law, submitted to the State Duma, introduces fines ranging from 100,000 to 1 million rubles ($2,500 to $12,500) for individuals, officials, and legal entities involved in unauthorized crypto transactions or mining. Authorities will also confiscate digital assets linked to these violations.
Critics argue the legislation could drive legitimate crypto businesses out of Russia, stifling the development of domestic crypto infrastructure. The move reflects Moscow's ongoing struggle to balance regulatory control with the growing influence of decentralized finance.
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