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In Buryatia and Zabaykalsky Krai, Bitcoin mining has been banned for five years - ForkLog: cryptocurrencies, AI, singularity, the future
Starting April 1, the Russian Federation (РФ) introduced a year-round restriction on cryptocurrency mining in a number of districts of the Republic of Buryatia and the Transbaikal Krai. The ban will last five years — until March 15, 2031.
In Buryatia, the measure applies to 19 districts and the city of Ulan-Ude. In Transbaikal — to 14 districts, 14 okrugs, Chita, the settlement of Aginskoye, and the ZATO of Gorny.
Previously, seasonal mining restrictions were in effect here.
The practice of a complete ban on the extraction of digital currency in certain regions was introduced in December 2024.
Along with this, on March 31, a bill was submitted to the State Duma on criminal liability for illegal mining and illegal services by operators of the relevant infrastructure.
The document proposes to punish offenders with fines of up to 2 million rubles and to deprive them of liberty for a term of up to five years. Enhanced liability measures are provided for organized groups that caused especially large damage or extracted especially large income. It will be possible to avoid criminal liability with full compensation of the damage.
The bill’s authors explained the need for prison terms by saying that miners are reluctant to register with the Federal Tax Service (ФНС). According to expert estimates, out of 50,000 potential market participants, only 1,489 entities are included in the register.
It is expected that the document will be adopted during the spring session and that its provisions will take effect on July 1, 2023.
Recall that on March 30, the government approved a package of bills on legalizing the circulation of digital currencies and digital rights in Russia. They plan to submit it to the State Duma on April 1.
ForkLog analyzed its provisions in detail in a special podcast. A text version is also available.