The government has submitted a draft law to the State Duma that includes amendments to the Criminal Code, which provides for the punishment of illegal trading of cryptocurrencies in Russia. document published On the website of the House of Representatives of the Russian Parliament.
The initiative’s owners proposed adding Article 171.7 to the Criminal Code. Liability for illegal regulation of cryptocurrency trading will be determined if this crime causes serious damage.
For illegal organization of cryptocurrency trading, a fine of 100 thousand to 300 thousand rubles will be imposed, forced labor for up to four years or imprisonment for up to four years.
If the crime was committed by an organized group or the harm occurred on a particularly large scale, the penalty will be more severe – up to seven years in prison.
TASS notes that it is proposed to recognize an amount exceeding 3.5 million rubles as significant damages, and 13.5 million rubles as particularly significant damages.
Russian authorities are constantly tightening legislation related to cryptocurrency trading. At the end of March, the government submitted to the Duma a draft law providing for up to five years in prison for illegal mining of cryptocurrencies.