Russia plans to tighten regulations on cryptocurrency trading: unlicensed operations will be considered a crime, with a maximum penalty of 7 years of forced labor.

CoinFeed reported on April 19th that, according to DL News, a draft bill published by the Russian State Duma proposes to introduce criminal liability for unlicensed cryptocurrency trading and exchange operations. Organizing digital currency trading activities without the central bank's permission will be considered a crime, and operators could face up to seven years of forced labor. Crypto miners who fail to declare their industrial mining activities will also be penalized. The draft bill also stipulates that individuals who buy or sell crypto assets without a license may face criminal penalties, including fines (approximately $1,300 to $4,000) or up to four years of forced labor; large exchange operators could face fines up to $13,000 and potential prison sentences of five to seven years. It is understood that if passed, the bill could take effect as early as July 1, 2027.