Russia is planning to criminalize unlicensed cryptocurrency transactions, with a maximum sentence of 7 years of forced labor. This move is truly a textbook example of “wanting it both ways.”

On one side, previously cryptocurrency was allowed for international trade settlement; on the other side, now they want to pursue criminal liability for the circulation of cryptocurrencies within the country, with a maximum of 7 years of forced labor.

Is the logic self-consistent?

Yes, because Russia’s attitude has never been “support cryptocurrencies,” but rather “support cryptocurrencies when they’re useful to me, and crack down on them when they pose a threat to me.”

Use cryptocurrency for international trade settlement → bypass SWIFT sanctions → beneficial to the country → allowed.

Domestic free circulation of cryptocurrency → capital flight → pressure on the ruble → harmful to the country → prohibited.

So the bill requires that “most cryptocurrency transactions be completed through commercial bank apps”—in essence, bringing cryptocurrency trading within regulatory oversight, so the central bank can see where every bit of money comes from and where it goes.

Now take a look at the sentencing standards:

Ordinary violators are fined $4,000 + up to 4 years.

Operators of large platforms are fined $13,000 + 5 to 7 years.

A $13,000 fine in exchange for 7 years of forced labor—what does that ratio indicate? It indicates that the fines are merely symbolic, and that 7 years is the real deterrent. Russia’s logic is simple: you may not care about being fined, but you do care about freedom.

Effective July 1, 2027—leaving a buffer of more than one year. During this time, cryptocurrency platforms in Russia will either comply, shut down, or run away.

What’s interesting is that this timing falls right near the next Russian election cycle.

Cryptocurrency regulation is never just a financial issue—it’s also a political issue.

For people doing cryptocurrency business in Russia, the countdown has already started.#比特币反弹 $ZRO