DIGITAL LIFE

Russia's neo-communist regime proposes to criminalize cryptocurrency trafficking

State Duma deputies propose the introduction of fines of up to 2 million rubles and criminal liability of up to seven years for illegal trafficking in digital financial assets and currencies. This is reported by RBC with reference to the text of the relevant invoices.
The bills developed by deputies impose administrative and criminal liability for violations of the use of digital financial assets, digital currencies and digital rights. According to the available data, the versions sent from the invoices have not yet been approved and may be changed in the future.
The aforementioned projects impose a fine of 50 to 500 thousand. rubles for individuals to organize the illegal circulation of financial assets and digital currencies, carrying out transactions with their use. A similar punishment is proposed to be applied to people who provide services for the issuance of digital rights and digital currencies using websites registered in Russia or technical means located in the country. For similar violations, the authorities face a 100,000 fine. up to 1 million rubles and for legal entities - from 200 thousand up to 2 million rubles.
Violation of the rules for transactions with digital assets, currencies or rights, if used as payment for goods, services or work, can lead to the confiscation of assets and fines of up to 200 thousand. rubles for individuals, up to 400 thousand rubles for employees and up to 1 million rubles for legal entities. It is proposed to introduce the same fines for issuing digital rights using Russian sites and equipment located in the country, as well as in cases where this infrastructure was used when transferring digital currency to third parties.
It is proposed to introduce criminal liability for similar violations by causing serious and especially great damage to citizens, organizations, the state or by generating income in large or especially large quantities. It also penalizes the purchase of digital currency in the Russian Federation for cash or by transferring to an account with Russian banks. For such violations, 500 thousand fines can be fined. rubles of up to 1 million rubles or imprisonment for up to four years, with a fine of 500 thousand rubles. It is proposed to introduce punishment for causing particularly large damages or obtaining particularly large profits in the form of forced labor for up to five years or imprisonment of up to seven years with a fine of 1 million rubles or in the amount of income punishable by a period up to five years.

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