🔥 Russia tightens cryptocurrency regulations, heavy fines for illegal miners
Russia proposes heavy fines and confiscation of digital assets for unauthorized cryptocurrency mining activities. Companies operating mining infrastructure are required to report to Rosfinmonitoring, and violations will be dealt with severely.
Individuals and organizations engaged in illegal mining may face fines ranging from 1-2 million rubles. Transactions outside the Central Bank's sandbox also face penalties of up to 1 million rubles. Russia plans to expand control over large mining facilities and allow the confiscation of digital assets as a deterrent.
This is a new tightening measure by Russia to manage the cryptocurrency market more strictly.
