Russian authorities prepare to penalize illegal crypto mining operations

Russia’s Federal Financial Monitoring Service, also known as Rosfinmonitoring, is working with the finance ministry and the central bank to introduce criminal penalties for illegal crypto mining, Cryptonews reported. Authorities allege that illicit miners are facilitating money laundering. A finance ministry official confirmed that legal amendments are already in progress. Currently, crypto mining is banned during winter in nine Russian and Russian-controlled regions.