Russia Moves to Criminalize Unauthorized Cryptocurrency Transactions, Facing Up to 7 Years Imprisonment

Criminal Penalties for Illegal Cryptocurrency Circulation

The Russian government has submitted a bill to the State Duma that criminalizes the circulation of cryptocurrencies without the approval of the central bank. This was reported by Russian media, including RBK, on the 13th.

The bill introduces a new clause (Article 171.7) to the Criminal Code concerning the illegal organization of cryptocurrency circulation. If approved, the law is expected to come into effect on July 1, 2027.

In Russia, exchanges and individuals who systematically engage in the buying and selling of cryptocurrencies without a business license...