Russia moves to tighten rules on illegal crypto mining

Russian lawmakers proposed stricter penalties for illegal cryptocurrency mining, setting fines up to $1,500 for individuals and $100,000 for companies. The move targets electricity misuse and seeks tighter oversight of digital asset activities nationwide. Analysts said tougher enforcement may disrupt underground mining operations. However, clearer rules could improve regulatory transparency, though uncertainty continues to weigh on global crypto sentiment among investors and infrastructure providers worldwide.