Russia Proposes Up to 2.5 Million-Ruble Fines, 5 Years Prison for Illegal Crypto Mining

Russia Proposes Up to 2.5 Million-Ruble Fines, 5 Years Prison for Illegal Crypto Mining

Russia’s Justice Ministry advances a criminal law amendment targeting unregistered cryptocurrency miners to improve tax oversight and suppress underground mining operations.

Fact Check
The evidence strongly and consistently supports the statement. Multiple high-authority sources, including a major Russian legal news portal, the official publication of the Russian Federal Assembly ('Parlamentskaya Gazeta'), and a reputable financial news outlet (Frank Media), all confirm that Russia's Ministry of Justice has prepared and proposed a draft law to introduce criminal liability for illegal cryptocurrency mining. This establishes the core of the claim—that such a proposal exists—with very high confidence. Furthermore, two separate sources, while having lower authority scores, directly corroborate the specific penalties mentioned in the statement. They explicitly report that the proposed law includes fines of up to 2.5 million rubles and prison sentences of up to five years. There are no contradictions in the provided evidence; sources that don't mention the specific figures still support the general trend of new, stricter regulation for crypto mining. The combined weight of the general confirmation from highly credible sources and the specific details from multiple specialized sources makes the statement highly likely to be true.
Summary

Russia’s Justice Ministry has proposed amendments to criminal law that would impose fines up to 2.5 million rubles or five years in prison for illegal cryptocurrency mining. The measure addresses the fact that only 30% of miners were registered as of October 2024, aiming to enhance tax oversight and curb underground mining.

Terms & Concepts
  • Crypto mining: The process of validating blockchain transactions for rewards using computing power.