According to the Russian Supreme Court, the country has been dealing with a rise in crimes involving bitcoin.
Irina Podnosova, chairman of the Russian Supreme Court, stated at a subsequent meeting that digital assets are extremely important in criminal activity across the country.
” With the spread of bitcoin in the economy, there has been a increase in crimes where the digital money is either the means of committing the crime, the criminal money, or the image of the act”, Podnosova said at the annual conference of judges of general jurisdiction, military, and judicial tribunals.
Potrivit to reports, the Supreme Court is putting together a bill to make crypto a house in legal circumstances.
Russia’s energy sector is also impacted by the financial effects of improper crypto mining, which is still a problem.
According to state-owned news agency , illegal mining actions by Russian energy company Rosseti Group have caused over$ 14 million in damages to the electricity grid alone in 2024.
The most affected areas are the North Caucasus, Novosibirsk, and Volga, where mining activities are straining the regional network and damaging both business and household products.
In a number of locations, the Russian government has placed temporary mine restrictions that will last until 2031.
These steps, alongside ideas for a federal registry of mine products, aim to curb the spread of unlawful procedures.
Officials are also considering imposing stiffer penalties, including legal fees and fines, to hinder offenders and protect critical equipment.
Russia and crypto
Despite its crackdown on illegal crypto activities, Russia’s complicated relationship with crypto is becoming more visible.
The nation embraces crypto to avoid American sanctions, while enforcing stricter rules to combat inside cryptocrime.
Russia’s illegal crypto activities continue to grow as fresh non-compliant exchanges quickly emerge in the wake of a new report from bitcoin analytics platform Chainalysis.
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