Russia Cracks Down on Illegal Crypto Mining as India Advocates for CBDCs
Russia's Ministry of Justice has proposed stringent penalties for unregistered cryptocurrency miners, including fines up to 2.5 million rubles and potential five-year prison sentences. Only 30% of mining operations were registered by mid-2025, highlighting widespread non-compliance.
Meanwhile, India's central bank is pushing global adoption of central bank digital currencies (CBDCs), emphasizing their programmability and settlement advantages over stablecoins. The Reserve Bank of India positions CBDCs as the safer alternative in digital finance.
These developments occur alongside increased crypto regulatory activity worldwide. South Korea and China implement new digital currency measures, while Turkmenistan officially legalizes crypto mining and trading—a stark contrast to Russia's punitive approach.
