Main page News, Russia, Mining, Cryptocurrency
Hot topic
Sept. 3, 2020
522 522

The Russian Ministry of Finance has just proposed a series of amendments to the law "On Digital Financial Assets".

Local news outlet Izvestia has reported that crypto miners will not be able to receive any payments in cryptos. Per the amendments, all transactions involving cryptocurrencies will be banned, with the only exception of 3 particular cases: inheritance, bankruptcy and enforcement proceedings.

Users violating this ban may face administrative and criminal liability. In the case of individuals, they might be forced to pay a fine of up to 100,000 rubles and 7 years in prison, while legal entities would have to pay a fine of up to 1,000,000 rubles.

It must be noted that even though mining is allowed, receiving crypto payments from mining would be banned.

Remember the law "On Digital Financial Assets" will come into force in January 2021.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error