Russia is intensifying its fight against illegal cryptocurrency mining. Rosfin Monitoring, the country's financial watchdog, is planning to implement criminal penalties for individuals and entities engaged in unauthorized crypto mining activities. This move, reported by CryptoNews, aims to combat money laundering associated with illicit mining operations. Rosfin Monitoring is collaborating with the Russian Ministry of Finance and the Central Bank to push forward this initiative. A legislative amendment is currently being drafted to formalize the penalties. This action signals a significant escalation in Russia's regulatory approach to cryptocurrency mining. Currently, Russia restricts cryptocurrency mining in nine regions during the winter months due to energy concerns. The proposed criminal penalties represent a broader effort to control and regulate the burgeoning cryptocurrency industry within its borders and prevent its use for illegal financial activities. ```
