Russia Moves to Penalize Crypto Transactions in Unauthorized Turnover
Russian authorities are tightening regulations on cryptocurrency transactions, with plans to penalize citizens involved in unauthorized digital currency turnover. Prosecutor General Alexander Gutsan announced legislative amendments to establish penalties and mechanisms for confiscating illegally traded coins. The measures aim to combat money laundering and track transactions linked to corruption, terrorism, and drug trafficking.
The legal framework, developed with prosecutors, includes controls on cryptocurrency mining and VIRTUAL asset transactions. Gutsan emphasized the need to monitor digital currency circulation outside the law during a meeting of the Commonwealth of Independent States (CIS) prosecutors general. The move reflects Russia's broader efforts to regulate the crypto sector while addressing illicit activities.
