Russian Lawmakers Propose Heavy Fines for Illegal Cryptocurrency Mining Activities

Russian Legislators Propose Harsh Penalties for Mining

Russian lawmakers have introduced a bill proposing fines of up to 10 million rubles (approximately $129,000) for illegal cryptocurrency mining, citing annual tax losses of $100 million. The bill, presented on January 19, aims to impose administrative penalties on mining operations in regions where the government has enacted bans, as well as on unregistered miners exceeding permissible energy consumption limits.

The proposed legislation outlines fines for individuals operating illegal mining facilities ranging from 100,000 to 150,000 rubles ($1,000–$1,500) for first offenses, escalating to 1–1.5 million rubles ($10,000–$15,000) for repeat violations. Legal entities face significantly higher penalties, starting at 1–2 million rubles and increasing to 5–10 million rubles for subsequent offenses. Operators of mining infrastructures granting access to unregistered miners could incur fines of up to 500,000 rubles, with repeat offenders facing penalties of up to 5 million rubles.

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"Illegal mining costs the Russian economy over 10 billion rubles ($100 million) annually, along with an additional 9 billion rubles in uncollected taxes," stated Anatoly Aksakov, Chairman of the State Duma's Financial Market Committee.

The bill also includes separate penalties for miners exceeding government-mandated energy consumption limits or operating without registration in the official mining registry. This legislative move follows the legalization of cryptocurrency mining in Russia in November 2024, which established a registry system requiring miners to report their activities to tax authorities monthly.

In the context of the market, Russia ranked second globally in cryptocurrency mining in 2025, accounting for approximately 15–18% of the global Bitcoin hashrate, trailing behind the United States. The country has imposed seasonal and year-round mining bans in several regions, including parts of the Siberian Irkutsk Oblast, due to concerns regarding the power grid.

In 2023, mining activities contributed around 10 billion rubles to the tax revenue, highlighting the significant economic impact of this sector.

In summary, the proposed legislation aims to formalize the distinction between legal and illegal mining markets in Russia, with the potential for illegal activities to split into "gray" and "black" areas, as predicted by Aksakov.

Sources:

Russische Gesetzgeber schlagen harte Strafen für Mining vor: Privatpersonen drohen 1.500 $ Bußgeld, Unternehmen über 100.000

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CryptoFan99 am 21.01.2026

It's about time they put some regulations in place! Illegal mining has been hurting the economy for too long, but those fines seem super steep. I wonder how many will actually get caught or if this will just push everything underground even more. Guess we’ll see how this plays out!

RogueMiner123 am 21.01.2026

Wow, this is a wild ride!! I mean, fines of up to 10 million rubles sounds like they are trying REALLY hard to stop illegal mining, but it also makes me think... will this just make it more appealing to go underground, ya know? Like if folks are already used to mining “illegally”, what is a hefty fine gonna do? They might just find more sneaky ways to keep it going. It’s like trying to stop piracy by making it super illegal and nothing changes, right?

Also, about that quote from Aksakov, 10 billion rubles lost? That’s a huge chunk of change! Makes you wonder how serious the Russian economy is about catching these guys, right? But I mean, if there's already like 10 million lost in taxes, then how much are they REALLY making? Like, should they focus on the REASONS people are mining illegally instead of just throwing fines around?

And what is this registry thing? Reporting to tax folks every month? Sounds like a headache to keep track of that, especially if someone is just trying to make a little extra cash on the side or whatever. I’d forget to sign in pretty quick haha!

Plus, this whole seasonal mining ban thing in Siberia, doesn’t that just confuse the whole situation even more? If you ban it and then regulate it, what’s the actual plan here? I just can't comprehend why some regions get more freedom and others don't. Also, is anyone gonna care when it gets colder? Who's mining in the winter, right??

In the end, I just hope they figure this all out without making it tougher on regular folks who just wanna dabble in crypto. I can see how it’s needed, but hey, simplicity is key!

CoinCrazeMania am 21.01.2026

Wow, they realy think those fines will stop people from mining like, wut if it just makes it more sneaky and stuff like is that even a good idea???

Anonymous am 21.01.2026

Wow this whole deal with the fines for illegal mining is kinda wild, I can't believe how much money they're talkin about! I mean, 10 million rubles is a heeck of a lot of cash for a fine. I get why they wanna crack down on it, cos losing 100 million dollars in taxes is no small thing, but wow, will these fines actually make any difference? Seems like if people are already mining illegally, maybe they’ll just keep findin sneaky ways to do it, ya know?

And it’s kinda funny how they’re setting all these rules and penalties, but didn’t the whole thing just get legalized like not too long ago? I think it was November 2024 or something? So are they saying they want everyone to register and pay taxes while also making the punishment way scarier? It’s like a game of cat and mouse where they keep makin the mouse get bigger fines, but the cat always has the upper hand no matter what!

Also, it seems kinda ironic that they’re the second biggest in the world for bitcoin mining but also have a ton of regions where they just up and banned mining. Like, how does that even work? Do they expect people just to pack up their rigs and go home? I don't think so! Plus, what happens to those miners who lose their jobs because of all these laws? This could end up hurtin families and not just the miners but the whole economy thing, feels like it's gonna get messy real fast!

And wow, the numbers they're throwin around about revenue are just huge. I never would have guessed mining was that big of a deal over there. But it's interesting how they think this might split the illegal stuff into "gray" and "black" markets like flipping a coin or something. I'm no expert but if there’s gonna be more complex layers to it, then don’t these policymakers have to think ahead and be ready for that kinda future with even more confusion?

I hope they reconsider how they approach this, it's wild to think about - it's like they don’t see the bigger picture! Just my ramble thoughts, cheers!

CheesyBread21 am 22.01.2026

Wow, this is such a mixed bag of news – I mean, on one hand, it sounds like a good idea to try and regulate illegal mining since they say it costs ALOT of money. But then again, shoving everyone underground doesn’t seem like a great plan? Like where do you draw the line? I read somewhere (might not be true, lol) that just putting higher fines can actually make people more sneaky and just work in secret. Plus, aren't they gonna push some miners to not register even more? Just seems like they’ll find loopholes and like be even more hidden. also, is that fine really enuf to dissuade someone who’s like already making tons of cash mining?

And, by the way, that money they’re talkin’ about, like 100 million in lost taxes, I mean wow. Is it really all from illegal miners? Can’t beleive how much that adds up! Makes u wonder about the discrepancies in what miners are actually making versus what they report. I wish they would explain how they come up with that 100 million figure, because it sounds like a lot of money to just be poofed away. And if Russia is the second biggest in mining, that says something, right? Really makes u think this could become huge in the future, like are they just gonna keep cracking down on it if it keeps growing?

On another note, with all the regional bans, I kinda feel bad for the miners who might be just tryna make a living. It’s kinda confusing how they say some places allow it, and others are just NOPE, and makes it risky. Maybe they should make it a bit easier for people instead of slapping all these fines. I dunno, I guess the governemnt is just trying to get their cut, but seems a little harsh to me. And what about the energy consumption limits? That just feels like an excuse to put pressure on guys who might not even be doing anything wrong. It just looks like they’re typical politicians trying to go after the easy targets rather than tackling the bigger issues.

I’m just rambling now, but there’s sooo many angles to this whole thing its hard to keep track. I really hope they don’t end up making it worse for everybody by just slapping on these fines haphazardly!

Anonymous am 22.01.2026

I get the need for regulation, but those fines seem way too harsh and could really backfire; I just hope it doesn’t drive miners further underground!

Article Summary

Russian lawmakers have proposed fines up to 10 million rubles for illegal cryptocurrency mining, aiming to curb significant tax losses and enforce regulations in banned regions. The legislation seeks to differentiate between legal and illegal mining activities while addressing energy consumption limits and unregistered operations.