The Russian State Duma Committee recommends the first reading of the criminal liability bill for illegal cryptocurrency mining

According to Bits.media, the State Duma's Committee on National Construction and Legislation in Russia has suggested passing the government's proposed criminal liability bill for illegal cryptocurrency mining in the first reading.

The bill will add Article 171.6 "Illegal Mining of Digital Assets and Activities of Mining Infrastructure Operators" to the Criminal Code, applicable to mining activities not registered in the national registry and unlicensed provision of mining infrastructure services. The severity of penalties will depend on the seriousness of the crime: for income or losses exceeding 3.5 million rubles, fines can reach up to 1.5 million rubles or two years' income, or compulsory labor for up to two years; for crimes committed by organized groups or income exceeding 13 million rubles, fines can reach up to 2.5 million rubles or three years' income, compulsory labor or imprisonment for up to five years, and may also include additional fines of up to 400,000 rubles or six months' income. In all cases, confiscation of the mined cryptocurrency is stipulated. The government states that currently about 50,000 entities in Russia are engaged in mining, but only 1,489 (609 legal entities and 880 individual entrepreneurs) are registered in the national registry.