Russia's State Duma Approves Criminal Liability Bill for Illegal Mining

Odaily Odaily Planet Daily News The State Duma Committee on State Building and Legislation of Russia has recommended the first reading of a government bill on criminal liability for the illegal mining of cryptocurrencies. The bill will add Article 171.6 to the Criminal Code of the Russian Federation, holding responsible those who engage in mining activities not included in the state register or provide unlicensed operational services for mining infrastructure.

If the illegal income or damages exceed 3.5 million rubles, the offender will face a fine of up to 1.5 million rubles or compulsory labor for up to two years. If committed by an organized group or if the income exceeds 13 million rubles, the maximum fine is up to 2.5 million rubles, and the offender may face up to five years of imprisonment. In all cases of violations, the mined cryptocurrencies will be confiscated. Currently, about 50,000 entities are engaged in mining in Russia, but only 1,489 are included in the register.