The government has submitted a bill to the State Duma providing for liability for illegal transactions with digital currency. The document has already been published on the parliament's website.
According to the initiative, it is proposed to introduce several types of punishment for the illegal circulation of cryptocurrency: a fine of up to 300 thousand rubles, forced labor for a term of up to 4 years, or imprisonment for the same term with an additional fine of up to 80 thousand rubles.
In the event of causing particularly large damage, the sanctions are tightened. The maximum penalty can be up to 7 years of imprisonment, and the fine can be up to 1 million rubles.
At the same time, the bill separately specifies the thresholds: it is proposed to consider amounts from 3.5 million rubles as large damage or income, and more than 13.5 million rubles as especially large.
The key violation is the provision of cryptocurrency exchange services without a license from the Bank of Russia.
Read more on the topic:
- Up to 7 Years for Cryptocurrency: What's Changing in Russia
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- Cryptocurrencies are no longer "in the shadows": Russia introduces strict regulation