Draft legislation in Russia aims to combat illegal crypto mining by targeting money laundering and the exploitation of low-cost electricity. Authorities, including the Federal Financial Monitoring Service, are proposing stricter controls, including administrative penalties and criminal liabilities.
This initiative signifies Russia's commitment to enhancing oversight of cryptocurrencies, potentially influencing global regulatory approaches and shaping mining technology advancements.
Experts emphasize the need for a comprehensive framework to adapt to evolving blockchain technologies, as new regulations are anticipated to impact market dynamics, trading volumes, and investor behavior.
Full story here: https://coincu.com/334953-russia-crypto-mining-legislation
