The State Duma of Russia may introduce fines for cryptocurrency payments, according to a bill developed by the Ministry of Finance and the Central Bank. This was announced by Andrey Medvedev, Director of the Legal Department of the Bank of Russia.
The responsibility is quite strict against the general background of the Administrative Offenses Code: for individuals, 100–200 thousand rubles, for legal entities, 700 thousand — 1 million rubles. But the key thing is that the digital currency that was illegally used as payment will be confiscated, this will be the most painful phenomenon.
According to Medvedev, digital currencies can and should be used for foreign economic activity. As part of the experimental legal regime (EPR), the Central Bank has already authorized cryptocurrency payments for participants in foreign economic activity and initiated additional regulatory measures.
Nevertheless, the regulator still does not recognize cryptocurrency as a means of payment and proposes to legally prohibit payments between residents outside the EPR. In case of violation of this prohibition, it is planned to establish liability. This may lead to the introduction of fines for such operations.
Earlier www1.ru reported that the past year 2024 was a landmark year for the Russian cryptocurrency and mining market.
Read materials on the topic:
New law on cryptocurrency in the Russian Federation: the main thing
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