Deep Tide TechFlow News, April 21, According to DL News, the Russian government published a draft bill on the State Duma website, proposing to hold accountable those who organize digital currency circulation without registration or without permission from the Central Bank of Russia, with a maximum penalty of 7 years of forced labor. The draft states that ordinary violators could be fined up to approximately $4,000 and sentenced to up to 4 years; large cryptocurrency trading platform operators could be fined up to approximately $13,000, and responsible persons could face 5 to 7 years. The bill also proposes that most crypto transactions be completed through commercial bank apps and imposes penalties on industrialized crypto miners who fail to report activities. If approved by the State Duma and the President, the new regulations are scheduled to take effect on July 1, 2027.
Deep Tide TechFlow News, April 21, According to DL News, the Russian government published a draft bill on the State Duma website, proposing to hold accountable those who organize digital currency circulation without registration or without permission from the Central Bank of Russia, with a maximum penalty of 7 years of forced labor. The draft states that ordinary violators could be fined up to approximately $4,000 and sentenced to up to 4 years; large cryptocurrency trading platform operators could be fined up to approximately $13,000, and responsible persons could face 5 to 7 years. The bill also proposes that most crypto transactions be completed through commercial bank apps and imposes penalties on industrialized crypto miners who fail to report activities. If approved by the State Duma and the President, the new regulations are scheduled to take effect on July 1, 2027.