Individuals with Criminal Records Barred from Mining in Russia

As part of Russia’s new legal framework for cryptocurrency mining, individuals with criminal records related to economic crimes or political offenses are barred from participating in mining activities. This rule applies both to individual entrepreneurs and businesses, and it is designed to prevent individuals with fraudulent backgrounds from exploiting the crypto industry.

The law, which comes into effect on November 1, 2024, also applies to those with terrorism-related convictions. Any miner found violating this provision will face penalties, including confiscation of mining equipment and a ban on future participation in the industry.