Russia plans to introduce criminal liability for unlicensed crypto trading

According to a draft law from the Russian State Duma, engaging in cryptocurrency trading or operations without permission from the central bank will be considered a criminal offense and could result in up to 7 years of forced labor. Individuals who buy or sell crypto assets without permission may face fines of approximately $1,300 to $4,000 (about 10 thousand to 29 thousand yuan), or up to 4 years of forced labor; the maximum fine for major exchange operators is $13,000 (about 94 thousand yuan), and they could be sentenced to 5 to 7 years in prison. If the bill is passed, it could take effect as early as July 1, 2027.