The Russian government has proposed to imprison for the illegal circulation of digital currency

On April 13, the Government Commission of the Russian Federation on legislative activity approved an initiative to introduce criminal liability for the illegal organization of the circulation of digital currency in Russia.

According to RIA Novosti, the document provides for the introduction of a new article 171.7 into the Criminal Code, which establishes responsibility for organizing the circulation of digital currency without registration or a license from the Bank of Russia. A prerequisite for bringing to justice will be the infliction of major damage or the receipt of income in a significant amount.

Illegal trafficking is proposed to be understood as the activity of organizing the circulation of digital currency in violation of legal requirements, if this led to damage to citizens, organizations or the state, or was accompanied by profit.

It is noted that fines from 100 thousand rubles to 300 thousand rubles, forced labor for up to four years or imprisonment for the same period are provided for such violations. At the same time, in the case of a crime committed by an organized group or with particularly large damage, the punishment can reach seven years in prison.

Regulatory veil: punishment for illegal circulation of digital currency is being worked out in the Russian Federation

How exactly are scammers circumventing the law now

On April 9, Vladimir Chistyukhin, First Deputy Chairman of the Bank of Russia, also stated that criminal liability could be introduced in Russia for the lack of a license from crypto exchanges, crypto brokers and crypto exchanges. According to him, the draft law "On digital Currency and digital Rights" is based on the principle of legality of financial intermediaries.

All important news is on the Izvestia channel in the MAX messenger.