On December 30, according to a newly revised draft of the Russian Criminal Code published on Monday, the Russian Ministry of Justice proposed a maximum fine of 1.5 million rubles (approximately US$19,000) and up to two years of forced labor for illegal cryptocurrency mining. For cryptocurrency mining activities involving substantial profits, the maximum penalty could be five years imprisonment, 480 hours of forced labor, and a fine of up to 2.5 million rubles. Unregistered "organized groups" illegally mining and obtaining huge profits could face a fine of up to 2.5 million rubles, or five years of forced labor or imprisonment.
Russian Deputy Finance Minister Ivan Chebeskov stated that as of June 19, only about 30% of cryptocurrency miners had registered and were conducting legitimate mining operations.
