According to Cryptonews, the Russian Ministry of Digital Development has proposed new regulations that will impose fines on illegal cryptocurrency miners and confiscate cryptocurrencies. Individuals face fines of 100,000 to 200,000 rubles (1,272-2,544 USD), individual entrepreneurs and officials face fines of 200,000 to 400,000 rubles (2,544-5,088 USD), and businesses face maximum fines of 2 million rubles (25,500 USD). The new regulations will also prohibit the use of cryptocurrencies for payments outside the central bank's regulatory sandbox, with violators potentially facing a fine of 1 million rubles and asset confiscation.