Russia has proposed new legislation that would impose criminal penalties on individuals and organizations operating crypto services without proper authorization.
The bill, submitted to the State Duma, requires all digital currency-related activities to be registered with the Bank of Russia. Violators could face fines of up to $4,000 and prison sentences of up to four years, with stricter penalties for coordinated group offenses.
The move signals a significant tightening of regulatory oversight in the country’s crypto sector. Authorities aim to curb illicit activity while ensuring greater control over financial flows involving digital assets.
The proposal highlights Russia’s cautious but firm approach toward integrating cryptocurrency within its legal and financial systems.
Source: X.com
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