Gate News message, April 21 — Russia’s government has unveiled a draft law on the State Duma website proposing criminal penalties for organizing digital currency circulation without registration or approval from Russia’s central bank, with sentences reaching up to seven years of forced labor.
According to the proposal, ordinary violators face fines of approximately $4,000 and up to four years imprisonment, while major crypto trading platform operators could be fined roughly $13,000, with responsible individuals facing five to seven years. The draft also mandates that most crypto transactions occur through commercial bank applications and imposes penalties on unregistered industrial-scale crypto miners.
The legislation requires approval from the State Duma and the President to take effect. If passed, the new regulations are scheduled to come into force on July 1, 2027.
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