Russia has Cryptos up in Arms

Crypto mining enthusiasts in Russia have an entirely different kind of buzz these days. For months, rumors have been swirling that the Russian government will bring criminal liability against crypto miners. Finally, after much speculation, it’s getting real. Crypto enthusiasts in the land of the Matrioshka Dolls are becoming concerned.

Too Serious a Penalty?

With new laws looming, the crypto crowd is beginning to cry foul. It’s understandable, too – the new laws would impose criminal penalties for mining activities that don’t comply with the established regulations, including imprisonment for up to seven years. That’s not really the kind of party these miners were dreaming of!

Crypto Industry’s Appeal

Realizing the harsh punishment, the crypto industry in Russia is hitting back. The community has sent an official appeal and petition to the government, asking the highest authorities to refrain from criminalizing crypto mining activities. This isn’t a combative effort, though – instead, it’s a plea to work with the state on developing regulations that work for everyone involved.

Good News, Bad News

The news here isn’t all bad – there have been a few positive changes. For example, the new regulations will allow miners to conduct legal activities and also exempt them from taxes on income from trading. On the flip side, though, it’s still a criminal offense to set up a mining operation without proper state registration.

Will Russia’s Crypto Future be Crushed?

Only time will tell! At this point, the Russian government is still discussing the full scope of the proposed regulations and it remains to be seen what changes, if any, will be made. Nevertheless, it’s clear that the crypto industry in Russia isn’t happy – and they are willing to fight for their rights. So, Russian miners – go forth with gusto! ❤️

Want more humor? Check out the full list of Crypto Comic Con Gags:

-What do you call a cryptocurrency miner who has a lot of money? A BitCoin Billionaire!
-Why did the Satoshi cry? He had just seen the transaction fees!
-What does an exchange trader say when prices get too high? This is ridiculous!
-Why did the blockchain fork? His wallet needed an upgrade!
-What did the miner shout when he got a block reward? HODL!