Russia is taking a decisive step in its battle against illegal cryptocurrency mining, aiming to curb the use of cheap electricity for illicit financial activities and potentially influencing global crypto dynamics. The Russian government has initiated draft legislation focused on money laundering prevention. This involves using administrative penalties alongside potential criminal sanctions against those engaging in illegal mining operations exploiting low-cost energy sources. These measures are aimed at strengthening Russia’s financial systems, seeking to control the flow of cryptocurrency while simultaneously navigating the complexities of blockchain technology.