State Duma deputies proposed to introduce criminal liability for illegal circulation of cryptocurrencies

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

how reports RBC, deputies have developed two draft laws with amendments for the Code of Administrative Offenses and the Criminal Code of the Russian Federation, and have already sent them to the Ministry of Economic Development.

The documents provide for administrative responsibility for organizing the illegal circulation of digital assets and cryptocurrencies, using them to conduct transactions or pay for goods, works, services, as well as their release using Russian sites or equipment on the territory of 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 or disqualification up to a year, legal individuals 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 the receipt of significant income. The list of illegal acts also includes the purchase of cryptocurrency in the country for cash or through transfers to accounts in Russian banks.

State Duma deputies proposed to introduce criminal liability for illegal circulation of cryptocurrencies

For these actions, 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 earlier Deputy Finance Minister Alexei Moiseev said that settlements in cryptocurrency would never be allowed in Russia.

text: Ivan Malichenko, photo: TASS

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