Chairman of the Russian energy commission reports illegal cryptocurrency mining costs Russia approximately 250 million USD annually

Nikolay Shulginov highlighted that illegal cryptocurrency mining costs Russia around 20 billion rubles annually, translating to about 250 million USD, straining the energy sector and social services.

Less than one-third of miners have registered after legalization in late 2024. New legislation aims to impose fines for illegal activities and suggest criminal consequences for unregistered miners.

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