Russia plans to introduce criminal liability for unauthorized encrypted transactions

According to the draft bill of the Russian State Duma, engaging in cryptocurrency trading or operation without the permission of the central bank will be considered a crime, with a maximum sentence of 7 years of forced labor. Individuals who buy or sell encrypted assets without permission may be fined approximately $1300 to $4000 (approximately $9400 to $29000) or sentenced to up to 4 years of forced labor; The maximum fine for operators of large exchanges is 13000 yuan (approximately 94000 yuan), and they may be sentenced to 5 to 7 years in prison. If the bill is passed, it may come into effect as early as July 1, 2027.