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Government commission to impose criminal liability for illegal cryptocurrency circulation

The prohibition applies to organizing the circulation of digital currency in violation of Russian law if this activity has caused significant damage to individuals, organizations, or the state or is associated with the extraction of large amounts of income

MOSCOW, April 13. /TASS/. The Russian Government’s commission on legislative activity has approved the introduction of a prison sentence for large-scale cryptocurrency transactions without the Central Bank’s permission, according to the commission’s meeting materials seen by TASS.

"The government commission has approved the introduction of Article 171.7 of the Criminal Code of the Russian Federation ‘Illegal organization of digital currency circulation’," according to materials.

The prohibition applies to organizing the circulation of digital currency in violation of Russian law if this activity has caused significant damage to individuals, organizations, or the state or is associated with the extraction of large amounts of income. Depending on the extent of the damage, the offender may face four to seven years in prison.

The amendments are expected to come into force on July 1, 2027.

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