Russia's State Duma Committee Recommends Passing Cryptocurrency Penalty Bill With Up to 7 Years Imprisonment

According to TASS, Russia's State Duma Committee on State Building and Legislation has recommended passing on first reading a bill imposing criminal penalties for illegal cryptocurrency circulation. The law proposes maximum sentences of 7 years imprisonment and fines up to 1 million rubles for organized group criminal activities causing significant damages. The Russian government originally proposed the legislation in April to amend the Criminal Code with penalties targeting non-legal crypto operations.
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