Russia’s Crypto Crackdown: 5 Years For Not Registering?!

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Breaking news: Russia just dropped a bombshell on crypto miners, and it’s so serious, they’re considering sending them to prison. No, really. 5 years. For not registering. Because apparently, even Bitcoin has to play by the rules. 🤡

Russia: New Criminal Article Proposed

Ah, the Russian government finally figured out that crypto is a thing. Now they want to make it legal… but only if you fill out their 100-page form and pay a fee in rubles. Or else, you’re looking at 5 years in prison. Because nothing says “I love you” like a prison sentence. 😂

Under the proposal, an unregistered miner could face a fine of up to 1.5 million rubles, compulsory labor for up to 480 hours, or forced labor for up to two years. The draft draws a line at income thresholds: if mining generated large-scale income of 3.5 million rubles, liability applies. Because 3.5 million rubles is clearly a red flag. 🚫

For operations that are part of an organized group or that produced especially large income of 13.5 million rubles, penalties rise sharply – fine ranges from 500,000 to 2.5 million rubles, forced labor of up to five years, or imprisonment for up to five years combined with additional financial penalties. Because 13.5 million rubles is clearly a “tax evasion” level of success. 🤯

Total crypto market cap currently at $2.97 trillion. Chart: TradingView. Because nothing says “we’re in control” like a chart that’s way bigger than the country itself. 📈

Registries And Monthly Reporting

Reports have disclosed that Russia legalized mining on November first, 2024, and on that date the Federal Tax Service opened special registries. All legal entities and individual entrepreneurs involved in mining must register, and operators of mining infrastructure are included. Because nothing says “trust us” like a registry. 📝

Registered miners are required to report mined digital currency every month through a section in their personal accounts on the Federal Tax Service website. Based on the agency’s figures, there were more than 1,000 participants listed in the registries by the end of May 2025. Because 1,000 miners is clearly a “small operation.” 🤡

Visibility And Control Through Registration

The draft law appears aimed at forcing visibility into a sector that has often operated in the shadows. By tying criminal penalties to failure to join the registry, authorities gain tools to pursue operators who avoid paying taxes, use subsidized power, or run large-scale farms without oversight. Smaller, informal miners are left most exposed because they may lack the paperwork or know-how to comply with reporting rules. Because nothing says “we care” like making sure your crypto is taxed. 💰

Timing And Enforcement Signals

Deputy Prime Minister Alexander Novak has said the government plans to introduce criminal liability for illegal mining and illegal lending in 2026. That comment, combined with the publication of the draft amendments, suggests phased steps: rules and registries are already in place, while tougher criminal measures could follow next year. Because Russia’s legal system is as predictable as a Russian roulette. 🎯

Some language in the draft also allows courts to impose fines equal to a convicted person’s salary or income for set periods, which would target earnings from mining operations. Because if you’re making money, you’re clearly a criminal. 🤡

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2025-12-31 08:19