Novak announced his intention to introduce liability for "black creditors"

The Russian government intends to tighten liability, up to criminal penalties, for the sphere of "black lending", as well as introduce fines and criminal penalties for illegal mining. This was announced on December 8 by Deputy Chairman of the Cabinet of Ministers Alexander Novak at the Council for Strategic Development and National Projects.

"We will tighten liability up to criminal liability for persons who illegally carry out activities to provide consumer loans," he said.

In addition, the issue of digital currency turnover will be legally regulated.

"We will establish administrative liability for violations of the law on mining digital currencies and criminal liability for illegal mining," Novak warned.

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Experts interviewed by Izvestia on November 27 reported that about 2.2 million current clients of microfinance organizations (MFOs) may leave for illegal creditors due to new requirements. The reason was that from March 2026, only Russians who have confirmed their biometrics will be able to receive online loans. As stated by the executive director of the financial marketplace, "I will choose.Yaroslav Badzhurak, many people use microloans sporadically and are not ready to undergo additional identification procedures.

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