Russia's Federal Financial Monitoring Service is pushing for criminal charges against illegal cryptocurrency mining due to its potential role in facilitating money laundering activities. Here's what's happening ¹:
- *Proposed Legislation*: A draft law has been prepared in collaboration with the Ministry of Finance and the Central Bank, with support from key policy-making bodies like the Civic Chamber.
- *Key Players*:
- *German Neglyad*: Deputy director of the Federal Financial Monitoring Service, announcing the proposed law.
- *Nikolai Zhuravlev*: Deputy Chairman of the Federation Council, emphasizing the need for proactive legislation to address financial system vulnerabilities.
- *Osman Kabaloev*: Deputy Director of the Financial Policy Department at the Ministry of Finance, confirming amendments for administrative penalties alongside criminal responsibility.
- *Goals*:
- *Curbing Electricity Exploitation*: Stop illegal mining operations from taking advantage of cheap electricity.
- *Preventing Money Laundering*: Mitigate the risks associated with illicit fund transfers.
- *Potential Impact*: This initiative could shape Russia's cryptocurrency landscape, influencing regulations and enforcement.
Keep an eye on this developing story for further updates on Russia's cryptocurrency regulations.
