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Russian Ministry of Finance promises miners a mix of incentives and penalties., 2026/03/23 19:47:07
The Deputy Minister of Finance of Russia, Ivan Chebeskov, stated that the authorities plan to offer a combination of incentives and penalties to miners who are reluctant to operate legally.
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The senior official expressed concern that a significant number of miners are still not prepared to legalize their activities and emphasized the need to understand the barriers they face. According to the deputy minister, his department views cryptocurrency mining as a standard economic activity and supports it, provided that miners adhere to the law.
“We observe that not all miners are willing to register and conduct their operations transparently. We are currently exploring options for both incentives and penalties to encourage miners to come into compliance. So far, only about a third of all mining capacities have registered, which is insufficient. If someone engages in entrepreneurial activities outside the law, they must be held accountable, potentially facing criminal charges,” Chebeskov remarked.
The official reminded that such legislative initiatives are already in place and may be introduced to the State Duma during the spring session. This pertains to an article that would amend the Criminal Code. The amendment has already received approval from the governmental commission on legislation.
The new article of the Criminal Code introduces liability for illegal mining. In cases where damage or income exceeds 3.5 million rubles, penalties may include fines of up to 1.5 million rubles, mandatory or forced labor. For a first offense, there may be a possibility of exemption from liability if full restitution of damages is made.
Stricter penalties are outlined for violations committed by groups or in cases of particularly large damage/income (over 13 million rubles): fines of up to 2.5 million rubles, forced labor, or imprisonment for up to five years. Even in instances of damage restitution, the bill does not provide for exemption from liability.
Previously, a member of the Public Chamber of Russia’s commission on the examination of legislative proposals, Evgeny Masharov, suggested banning cryptocurrency mining for all individuals, allowing only state-controlled industrial mining to remain legal.
