🚨 Russia Considers Criminalizing Illegal #Cryptocurrency Exchange

⚖️ The Russian government commission on legislative activities approved a draft law that introduces criminal liability for organizing illegal #cryptocurrency transactions, particularly if they result in significant damage. The specifics of what constitutes illegal #cryptocurrency circulation have not been detailed. ➡️ The proposed law adds a new article, 171(7), to the Russian Criminal Code. It stipulates that individuals found guilty of organizing illegal #cryptocurrency transactions could face fines ranging from 100,000 to 300,000 rubles or an amount equivalent to their income for a period of one to two years. Additionally, compulsory labor for up to four years or imprisonment for the same duration may be imposed, along with a fine of up to 80,000 rubles or an amount equivalent to income for up to six months. 🔍 The penalties are increased if the crime is committed by an organized group or results in particularly large damage or income. In such cases, the offender may face compulsory labor for up to five years or imprisonment for up to seven years, along with a fine of up to 1 million rubles or an amount equivalent to income for up to five years. #crypto