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Russia plans to impose criminal penalties for illegal cryptocurrency exchanges, with a maximum sentence of five years' imprisonment.
PANewsJul 9, 2026
The Russian State Duma has passed in the first reading a bill submitted by the government, the "Criminal Liability for Illegal Circulation of Digital Assets," which imposes criminal penalties for illegal cryptocurrency exchange activities that are not registered and licensed by the state.
According to the bill, organizers of illegal exchanges face fines of 100,000 to 300,000 rubles or penalties equivalent to one to two years of income. Courts may impose compulsory labor or sentences of up to four years in prison, with an additional fine of up to 80,000 rubles.If committed by an organized group or involving particularly large incomes (over 3.5 million rubles), the maximum penalty can be five years in prison and a fine of up to 1 million rubles.The bill stipulates that the penalties will take effect on July 1, 2027.Previously, the government's crypto regulation bill required all Russian crypto exchanges to operate through licensed financial institutions.[PANews]
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