The State Duma of the Russian Federation is discussing a bill that introduces serious fines for illegal cryptocurrency mining. The initiative has already been supported by the relevant energy committee — the next step may be to consider the document in the first reading.
The main goal of the law is to bring mining out of the "gray zone" and reduce the burden on the energy system. According to deputies, underground crypto farms often consume huge amounts of electricity, but do not pay taxes and operate outside of official control.
It is proposed to make the fines significant. For citizens — up to 150 thousand rubles, for officials and individual entrepreneurs — up to 800 thousand. For companies, sanctions can reach 1–2 million rubles, and for repeated violations, the amounts can increase to 10 million.
Separate responsibility is also provided for concealing information about mined cryptocurrency. If a miner does not provide information about wallets and income to the Federal Tax Service of Russia, he may also face a fine.
The authors of the initiative believe that such measures will force the market to work legally and reduce the number of illegal crypto farms that overload power grids. If the law is passed, mining cryptocurrency without registration in Russia will become much riskier.
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