The Russian Ministry of Justice recently submitted a draft amendment to the Criminal Code aimed at cracking down on unregistered illegal cryptocurrency mining in the country. According to the draft, illegal mining activities will face fines of up to 1.5 million rubles (approximately $19,000) or up to two years of forced labor. If illegal mining activities involve substantial profits, the maximum penalty could be five years imprisonment, along with a fine of up to 2.5 million rubles (approximately $31,800) or 480 hours of forced labor. The amendment also sets a maximum penalty of five years imprisonment or forced labor for the substantial profits achieved by illegal "organized groups." Russian Deputy Finance Minister Ivan Chebeskov stated that as of June 19, 2025, only about 30% of cryptocurrency miners have completed registration and legalized their operations, with the majority remaining in a "grey area." Under current regulations, individual miners consuming less than 6,000 kilowatt-hours of electricity per month do not need to register but are still required to pay personal income tax. (Cointelegraph)

According to Cointelegraph, Russia has introduced a draft bill aimed at curbing unregistered cryptocurrency mining activities within its borders. The proposal, put forth by the Ministry of Justice, suggests imposing penalties of up to 1.5 million rubles, equivalent to approximately $19,000, and up to two years of forced labor for those engaged in illegal mining operations. For cases involving significant profits, the penalties could escalate to five years of imprisonment, 480 hours of forced labor, and fines reaching 2.5 million rubles, or about $31,800. The draft amendments to the Criminal Code also target organized groups involved in illegal mining, with similar penalties. Russia's latest legislative move reflects the government's ongoing efforts to regulate and benefit from the burgeoning cryptocurrency mining industry. Miners are mandated to submit a monthly tax form detailing their digital currency production. However, as of June 19, only 30% of miners have registered and legalized their operations, according to Ivan Chebeskov, Russia's Deputy Minister of Finance. Chebeskov emphasized the government's intention to bring the industry out of the shadows, although the process remains incomplete. Miners consuming less than 6,000 kWh monthly are classified as individuals and are exempt from registration with the Federal Tax Register, though they must pay personal income tax on mined cryptocurrency, as per a decree effective November 1, 2024. By the end of October, Russia had 1,364 registered cryptocurrency miners, as reported by Anton Siluanov, the country's Minister of Finance, during a State Duma plenary session. In August 2024, Russian President Vladimir Putin enacted laws establishing a regulatory framework for cryptocurrency mining, which took effect on November 1, 2024. These laws require compulsory registration and taxation for all mining entities, including infrastructure providers. The legislation also prohibits foreign entities from mining in Russia and grants the government authority to restrict mining in specific regions, a decision that has faced criticism for not fully legalizing crypto mining nationwide.

According to BlockBeats, Grayscale has submitted the initial S-1 filing for the Grayscale Bittensor Trust, with the ticker symbol GTAO, to the U.S. Securities and Exchange Commission (SEC). This move could potentially lead to the establishment of the first TAO Exchange Traded Product (ETP) in the United States.

According to PANews, SoftBank has fulfilled its $40 billion investment commitment to OpenAI, as reported by CNBC citing unnamed sources. This significant financial move underscores SoftBank's confidence in OpenAI's potential and its strategic importance in the technology sector.

On December 17, 2025, the bell rang at the Hong Kong Stock Exchange, marking the listing of HashKey Group, Hong Kong's first licensed digital asset trading platform.

Grayscale has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) outlining its plans to convert its Grayscale Bittensor Trust (TAO) into an ETF and list it on the New York Stock Exchange (NYSE Arca). The trust currently trades on the OTCQX market under the ticker symbol “GTAO” and will retain the same ticker symbol after listing.

According to a CNBC report citing sources, SoftBank has fully committed its $40 billion investment in OpenAI. (Jinshi)

Russia’s justice ministry proposed fines and prison for illegal crypto mining, as officials say most miners still haven’t joined the tax register. source: https://cointelegraph.com/news/russia-illegal-crypto-mining-criminal-penalties-draft?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

According to PANews, Grayscale has submitted an S-1 filing to the U.S. Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) that will track BitTensor (TAO). This move is part of Grayscale's efforts to expand its range of cryptocurrency asset ETFs.

The perps exchange detailed supply splits, airdrops, and onchain revenue plans. source: https://www.bankless.com/read/news/ethereum-perps-exchange-lighter-debuts-lit-token

Mogo Inc. announced that it has officially changed its name to Orion Digital Corp. (Orion Digital) and will begin trading on Nasdaq and TSX under the new ticker symbol ORIO on January 2, 2026. This name change reflects the company's evolution into a founder-led digital financial platform with businesses spanning wealth management, payments, and digital assets. Orion Digital comprises three core segments: Intelligent Investing, a smart investment platform; Carta Worldwide, a global payments infrastructure; and the Bitcoin Treasury. As one of the first Nasdaq-listed companies to include Bitcoin in its treasury in 2020, Orion Digital stated it will continue to expand its Bitcoin reserves as part of its long-term digital asset reserve strategy. Furthermore, Orion Digital was previously the largest shareholder of WonderFi, which was acquired by Robinhood for $250 million in 2024.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

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A16Z, Artificial Intelligence, Crypto Market, a16Z: These 21 Major Future Trends Are About to Explode (Golden Finance), a16Z's Key Trends for 2026

Recommended reading tonight: 1. Grayscale: Crypto growth stalled in Q4 2025, but privacy tokens shone; 2. Dragonfly Partner: 25 predictions across 6 categories for crypto trends in 2026; 3. What does the market look like in the eyes of major institutions?

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