Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners

The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib) has asked Finance Minister Anton Siluanov to explain a proposal made by his department to introduce penalties for cryptocurrency miners violating the law.

The provisions oblige mining companies in Russia to report their income and provide tax authorities with detailed information about their digital asset holdings, including wallet addresses, in order to avoid criminal liability. Penalties for failure to do so include hefty fines and even prison time. Quoted by RBC Crypto, Racib’s letter states:

This document has caused a lot of confusion and questions in the digital economy business community.

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