BlockBeats News, April 2, according to Cryptopolitan, the Russian government has submitted a bill to the State Duma proposing criminal penalties for illegal cryptocurrency mining activities; violators will face fines of up to 2 million rubles (about $25,000) and up to 5 years in prison. Currently, around 50,000 individuals and entities are engaged in mining activities, but the number of registered businesses is fewer than 1,500.
Meanwhile, Russia has expanded its mining ban to 13 regions, including the Republic of Buryatia in Siberia and the Zabaykalsky Krai in the Far East, and the ban will remain in effect until 2031. The Moscow Oblast energy minister has also proposed banning mining in the capital and Moscow Oblast, saying local mining consumes about 1GW of electricity and makes no substantial contribution to the regional economy. Russia previously legalized mining at the end of 2024, but requires those operating to complete registration with the Federal Tax Service and pay taxes according to the law.
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