Russia's Duma to weigh criminal liability for unlicensed crypto circulation
- —Criminal liability targets organizers of crypto circulation without a license or registry entry
- —Penalties would scale with income earned or damage caused
- —Residents would be required to report non-custodial wallet transactions to the tax service
- —The Bank of Russia says it has uncovered over RUB 1 billion in illegal crypto turnover
Why it matters: Tighter rules for crypto organizers in Russia could push part of the infrastructure into the grey zone and expand tax scrutiny of holders.
Source: CoinSpot