State Duma deputies proposed to criminalize cryptocurrency trafficking

State Duma deputies proposed to criminalize cryptocurrency trafficking

Deputies of the State Duma of the Russian Federation want to introduce criminal liability up to imprisonment of 7 years for illegal circulation of digital financial assets and cryptocurrencies.

According to RBC, the deputies have developed two bills as amended for the Code of Administrative Offenses and the Criminal Code, and have already sent them to the Ministry of Economic Development.

The documents provide for administrative responsibility for organizing the illegal circulation of CFA and cryptocurrencies, using them to conduct transactions or pay for goods, works, services, as well as releasing them using Russian sites or equipment in the Russian Federation. For individuals, fines range from 50 thousand rubles. up to 500 thousand rubles, for officials – from 100 thousand rubles. up to 1 million rubles, legal entities or disqualification up to a year, legal entities persons will have to pay from 200 thousand rubles. up to 2 million rubles

Criminal liability is provided for similar violations if they caused major damage to citizens, organizations or the state, or led to significant income. The list of unlawful acts also includes the purchase of cryptocurrency in the country for cash or through transfers to accounts in Russian banks.

For these acts a fine of 500 thousand rubles is threatened. up to 1 million rubles, up to 5 years of forced labor or imprisonment for up to 7 years.

Recall that previously Deputy Minister of Finance Alexei Moiseev said that in Russia they will never allow payments in cryptocurrency.

, TASS

State Duma deputies proposed to criminalize cryptocurrency trafficking

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