Russia Prepares to Prosecute Illegal Cryptocurrency Mining

The Russian government is taking a strong stance against illegal cryptocurrency mining, proposing criminal charges as a response to concerns about money laundering activities. Russia’s Federal Financial Monitoring Service has collaborated with the Ministry of Finance and the Central Bank to develop a draft law that would target these activities. The proposal has garnered support from various policy bodies, including the Civic Chamber. This initiative is driven by the need for legislative action to address vulnerabilities in the financial system and curb the use of cheap electricity for illegal mining.