Federal Customs Service: Use of equipment for the mining of cryptocurrencies entails risks of administrative and criminal liability

Federal Customs Service: Use of equipment for the mining of cryptocurrencies entails risks of administrative and criminal liability

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On the website of the Ural Customs Administration of the Federal Customs Service (FCS), a publication appeared that the Tyumen Customs refused to issue cryptocurrency equipment for the resident of Tobolsk, which, he said, “was intended for domestic use, for mathematical and scientific calculations.”

As the employees of the department have established, non-tariff regulation measures are applied to this product, in order to obtain it, the buyer must provide additional documents: information about the notification or the conclusion of the FSB.

Unable to provide the documents and get the equipment, a resident of Tobolsk appealed to a court that refused to accept his argument that the cryptocurrency is a byproduct of scientific activity, which he intended to deal with using the acquired devices.

The FCS reports that “the use of equipment for mining of cryptocurrency for its intended purpose entails possible risks of administrative and criminal liability,” arguing that such equipment is often connected to power supplies of state enterprises for personal purposes.

In addition, “with the regular withdrawal and exchange of cryptocurrency for fiat money, there is a fact of entrepreneurial activity with the need to register it.” The lack of registration can lead to administrative and criminal prosecution, the FCS specified.

“In the absence of legislative regulation, the state is not able to control the withdrawal of funds from the country, which jeopardizes national security, the national currency and the country’s financial market,” the agency concludes.

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