🚨 Russia Moves to Criminalize Illegal Crypto Mining 🚨

Russia's financial watchdog is pushing for criminal charges against illegal cryptocurrency mining, linking it to money laundering risks.

A draft law—prepared with the Ministry of Finance and Central Bank—has already gained backing from key policy groups like the Civic Chamber.

🗣️ Deputy Director German Neglyad: "Crypto must not become a tool for illegal finance."

Also weighing in, Federation Council's Nikolai Zhuravlev stressed the importance of proactive legislation to protect the financial system. Meanwhile, Osman Kabaloev of the MoF confirmed plans to introduce both administrative fines and criminal liability to crack down on abuse of low-cost energy for mining and illicit fund transfers.

🔍 The message is clear: crypto innovation must go hand-in-hand with regulation.

#cryptonews #Russia #MoneyLaundering #Regulation #Blockchain #Policy #mining #finance

JUST IN: 🇺🇸 Financial Firm Jefferies analysts say, “China and Russia are encouraging more domestic #bitcoin Mining.” 👀

🇷🇺 LATEST: Russia is planning to launch a #cryptocurrency exchange that will be jointly operated by its central bank and finance ministry, specifically for qualified investors.

The Russian Central Bank states that the shift in Bitcoin policy was "instructed by President Putin."

#bitcoin #Russia