TechFlow reported on February 21, citing Decrypt, that Irina Podnosova, Chair of Russia's Supreme Court, stated during an annual judges' meeting attended by President Putin that criminal cases involving digital currencies have significantly increased as cryptocurrencies become more widespread in the economy. The Supreme Court is preparing new legislation to recognize cryptocurrency as property in criminal cases.
Previous report, according to Russia's state power company Rosseti Group, illegal cryptocurrency mining caused over $14 million in grid losses in 2024. The North Caucasus, Novosibirsk, and Volga regions were hit hardest. To address this issue, the Russian government has already implemented seasonal bans on mining in certain areas, with these restrictions set to last until 2031.
Notably, while Russia cracks down on domestic cryptocurrency-related crimes, it is simultaneously leveraging cryptocurrencies to circumvent Western sanctions. The government is considering establishing a nationwide registration system for mining equipment and increasing penalties for violations.
