The Russian government plans to advance a cryptocurrency regulatory framework next year, proposing to introduce criminal liability for illegal mining activities and administrative penalties for minor violations. Deputy Prime Minister Alexander Novak stated that the country will comprehensively regulate digital currency circulation and strengthen crackdowns on electricity theft mining and unregistered mining farms. Although mining has been legalized in Russia, less than one-third of mining enterprises are registered, and some regions have implemented mining bans due to electricity shortages.
Regulatory authorities are working with the police, power grid operators, and the FSB to intensify inspections, using smart meters, network monitoring, and drone thermal imaging to locate mining farms. (cryptopolitan)
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
The Russian government plans to advance a cryptocurrency regulatory framework next year, proposing to introduce criminal liability for illegal mining activities and administrative penalties for minor violations. Deputy Prime Minister Alexander Novak stated that the country will comprehensively regulate digital currency circulation and strengthen crackdowns on electricity theft mining and unregistered mining farms. Although mining has been legalized in Russia, less than one-third of mining enterprises are registered, and some regions have implemented mining bans due to electricity shortages.
Regulatory authorities are working with the police, power grid operators, and the FSB to intensify inspections, using smart meters, network monitoring, and drone thermal imaging to locate mining farms. (cryptopolitan)