Russia’s government has issued a new order directing cryptocurrency miners to report earnings or face jail time. Local media outlets have reported that miners will have to declare this income or face up to four years in prison.

In addition to filing the income, miners must also provide information related to the transactions, namely wallet addresses. The exact sentence, if found guilty, varies depending on how much of an income is earned.

Additionally, there was also an amendment to laws with respect to money laundering. Miners must provide information on those involved in the process and other information about the operation.

Russia has attempted to rein in the mining industry for a long time, as proven by the statements in the notice. However, it has also offered some concessions in recent months. The government provided tax incentives for those interested in mining, helping open a $12 million crypto-mining facility in Siberia.

(By Rahul Nambiampurath)