For illegal trafficking of cryptocurrencies in Russia they proposed to imprison for up to seven years

The government commission approved amendments to the Criminal Code, which provide punishment for the illegal circulation of cryptocurrency in Russia, RBC reported on April 13, citing sources.

It is proposed to add Article 171.7 (illegal organization of circulation of digital currency) to the Criminal Code, which provides for “responsibility for activities related to organizing the circulation of digital currency without registration or a license from the Bank of Russia.”

“A mandatory feature is a socially dangerous consequence in the form of causing major damage (or generating large-scale income),” the amendments say.

The authors of the initiative proposed imposing a fine of 100 thousand rubles to 300 thousand rubles, forced labor for up to four years, or imprisonment for up to four years for the illegal organization of cryptocurrency circulation on a large scale.

If the damage is particularly large, the punishment will be more severe - up to seven years in prison.

Large damage is considered to be from 3.5 million rubles, especially large - from 13.5 million rubles.

• At the end of March, the Russian government submitted to the State Duma a bill providing for up to five years in prison for illegal crypto mining.