The State Duma in the first reading approved the draft on fines for illegal mining

The State Duma adopted in the first reading a bill on administrative penalties for illegal mining of cryptocurrencies. This follows on April 14 from the updated electronic database of draft laws.

"The increased consumption of electric energy by illegal miners poses a threat to the safety of citizens and the reliability of the energy system, as well as entails a number of negative social and economic consequences," the explanatory note says.

The authors of the document point out that overloads in electrical networks lead to forced shutdowns of bona fide consumers, a decrease in the reliability of the power system and the failure of household appliances.

In addition, round-the-clock increased load and overheating of mining equipment in residential and non-residential buildings create conditions for fires.

Also, low electricity tariffs for the population in a number of regions make mining attractive, but the taxation of this activity is not regulated by law, which leads to a lack of revenue for budgets of all levels.

Secret Chancellery: Russia will tighten responsibility for illegal mining

Violators face fines and confiscation of equipment.

On March 31, the Russian government submitted to the State Duma a bill criminalizing illegal mining of cryptocurrencies and illegal management of mining infrastructure. It is clarified that a new article is planned to be introduced into the Criminal Code of the Russian Federation, according to which illegal mining of cryptocurrencies or the provision of services to a mining infrastructure operator without being entered into the relevant registers, if major damage is caused, will be punishable by a fine of up to 1.5 million rubles.

All important news is on the Izvestia channel in the MAX messenger.