Russia targets unregistered crypto miners with new criminal penalties
Russia is implementing new criminal penalties aimed at unregistered cryptocurrency miners, marking a significant shift in its regulatory approach to the crypto industry. The government plans to impose fines and potential prison sentences for individuals and entities engaged in mining without proper registration. This move is part of a broader effort to regulate the cryptocurrency sector and curb illegal activities associated with it. Authorities are particularly concerned about the energy consumption and financial risks linked to unregulated mining operations. The new penalties are expected to take effect soon, signaling a stricter stance on cryptocurrency activities in the country.
Read the full article: Coin Telegraph