TLDR

  • Russia’s Ministry of Justice has put forward new sanctions for cryptocurrency miners who haven’t registered their operations.
  • The draft legislation suggests fines reaching 2.5 million rubles and prison terms of up to five years.
  • By mid-2025, just 30% of Russia’s cryptocurrency miners had formalized their operations through registration.
  • India’s central bank has called on nations to give precedence to central bank digital currencies (CBDCs) over stablecoins.
  • The Reserve Bank of India (RBI) stressed that CBDCs provide programmability and fast settlement times along with enhanced financial security.

Russia’s Justice Ministry has proposed strict penalties for unlicensed cryptocurrency mining, while India continues to push for [blank] on a global scale. The U.S. is gearing up for a new legislative initiative regarding digital assets, and Uganda’s opposition is promoting an offline messaging app to boost election resilience. At the same time, South Korea and China are rolling out new digital currency policies, and Turkmenistan has formally legalized cryptocurrency mining and trading activities.

Russia Proposes Fines and Jail for Unregistered Miners

Russia’s Ministry of Justice has filed a draft bill that imposes strict sanctions and prison sentences on illegal cryptocurrency miners.

For serious offenses, the bill outlines fines up to 2.5 million rubles and prison terms that can last up to five years.

Deputy Finance Minister Ivan Chebeskov reported that by mid-2025, only 30% of miners had registered their operations.

Finance Minister Anton Siluanov verified that 1,300 miners had registered by October 2025, indicating low adherence to registration rules in the industry.

The ministry further suggested labor colony terms for individuals who earn significant profits without proper registration.

Depending on the size of their illegal earnings, offenders could face 480 hours of compulsory labor in addition to monetary fines.

Officials anticipate that the new regulations will ease pressure on energy grids and bring mining activities under better control.

India Pushes Global Support for CBDCs

In its financial stability report, India’s central bank encouraged nations to prioritize CBDCs over stablecoins.

The [blank] highlighted CBDCs as essential for preserving financial integrity and monetary oversight.

The RBI pointed out that stablecoins present monetary risks during periods of financial turmoil, urging careful evaluation and regulation.

“CBDCs provide the advantages of stablecoins but come with central bank support,” the RBI report noted.

India’s monetary body voiced worries about multiple fiat-backed digital assets competing within a single economy.

This position emphasizes India’s goal to take a leading role in global CBDC conversations as private digital currency use continues to rise.

The central bank asserts that CBDCs deliver efficient settlement processes and programmability while not endangering systemic security.

US and Global Crypto Developments Continue

Following delays in 2025, the U.S. Senate Banking Committee plans to examine cryptocurrency market legislation in January.

Lawmakers supportive of cryptocurrency hope to move the Responsible Financial Innovation Act forward for a full floor vote.

Cody Carbone, CEO of the Digital Chamber, stated that the committee will mark up important legislation in early January.

A Ugandan opposition leader [blank] promoted the use of Bitchat to circumvent communication blackouts during elections.

The decentralized application, created by [blank], allows for encrypted messaging through Bluetooth mesh networks.

President Museveni has previously cut off internet access during elections, citing national security reasons.

In the meantime, South Korea’s Digital Asset Basic Act is still suspended because of regulatory disputes.

China’s central bank will start permitting interest payments on digital yuan wallet balances starting January 1.

Turkmenistan has passed a law that legalizes cryptocurrency mining and trading, enabling foreign companies with valid registration to conduct operations.