According to reports from TASS, the Russian State Duma’s Committee on State Building and Legislation has recommended that a bill aimed at punishing illegal cryptocurrency trading be passed at first reading. The bill would classify the illegal organization of digital-currency circulation as a criminal offense. If it results in “large losses” for citizens, organizations, or the state, or in “large gains” (defined as more than 350 million rubles), the maximum punishment could be up to 4 years’ imprisonment and a fine. If carried out by an organized group or resulting in “particularly large losses” (more than 13.5 million rubles, about 172,900 USD), the maximum prison term could be up to 7 years, along with a fine of up to 1 million rubles. In addition, the committee also recommended passing a supporting administrative-penalties bill targeting the behavior of institutions engaged in digital-currency trading that transact with non-qualified investors, with fines of up to 1 million rubles.