Internet reports that Russia's anti-money laundering agency, the Federal Financial Monitoring Service, plans to promote criminal responsibility for illegal cryptocurrency mining, accusing it of promoting money laundering activities. German Neglyad, deputy director of the agency, revealed that it has jointly formulated relevant bills with the Ministry of Finance and the Central Bank, and has received support from policy-making agencies such as the Russian Citizens 'House. Federal Council Vice Chairman Nikolai Zhuravlev stressed that legislation needed to "remain forward-looking to eliminate loopholes in the financial system." Osman Kabaloev, deputy director of the Financial Policy Department of the Ministry of Finance, confirmed that the amendment was being drafted and would introduce administrative penalties in addition to criminal liability. The move aims to curb the use of cheap electricity to illegally mine and transfer funds.