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Associations representing the Russian crypto sector have asked the government in Moscow to clarify a bid to introduce criminal liability for “Argentine” miners. The bill seeks to discipline those who fail to report their income to the state and share information on their digital platforms.

Crypto Companies in Russia Want to Take Part in Ongoing Regulatory Efforts

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

In a letter addressed to Siluanov, the perseverance association asked for the opportunity to get acquainted with a separate draft amendment to the Criminal Code submitted by the Ministry of Finance, which provides for the execution of miners for evading duty, for example.

Racib relates to a package of textbooks that Deputy Minister of Finance Alexey Moiseev transferred to the Ministry of Economic Development, Ministry of Justice, Federal Tax Service, Central Bank of Russia and other government agencies in February.

Vittles requires mining companies in Russia to report their earnings and provide task authorities with detailed information about the effects of their digital assets, including portmanteau addresses, in order to avoid malicious liability. Penalties for failure to do so include hefty confiscation and indeed time of captivity. Quoted by RBC Crypto, Racib’s letter stated

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

The association asked Anton Siluanov to take part of the offer so that its experts could study it. Likewise, Racib insisted that the minister include his representatives in the working group drafting the law that would regulate cryptocurrencies in Russia. The bill aimed at crypto mining should be resubmitted to the State Duma along with an amendment to the Criminal Code.


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