Russia plans to impose criminal penalties on unregistered cryptocurrency miners.

According to Foresight News , a newly drafted amendment to the Russian Criminal Code, published on Monday, proposes that illegal cryptocurrency mining be punished with fines of up to 1.5 million rubles (approximately $19,000) and up to two years of forced labor. 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 for substantial profits could face fines of up to 2.5 million rubles, or five years of forced labor or imprisonment.