Russia's AML agency plans to classify illegal crypto mining as a crime.

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[Russia’s AML Agency Plans to Criminalize Illegal Crypto Mining] The Federal Financial Monitoring Service of Russia plans to push for criminal liability for illegal crypto mining activities, accusing them of facilitating money laundering. The agency’s deputy director German Neglyad revealed that they have collaborated with the Ministry of Finance and the Central Bank to develop relevant legislation, which has received support from policy-making bodies such as the Russian State Duma. Nikolai Zhuravlev, Vice Chairman of the Federal Council, emphasized that legislation needs to “be forward-looking to eliminate loopholes in the financial system.” Osman Kabaloev, Deputy Director of the Financial Policy Department of the Ministry of Finance, confirmed that amendments are being drafted, which will introduce administrative penalties in addition to criminal liability. This move aims to curb illegal mining using cheap electricity and the transfer of funds.

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