Gate News message, April 21 — Russia’s government has unveiled a draft law on the State Duma website proposing criminal penalties for organizing digital currency circulation without registration or approval from Russia’s central bank, with sentences reaching up to seven years of forced labor.
According to the proposal, ordinary violators face fines of approximately $4,000 and up to four years imprisonment, while major crypto trading platform operators could be fined roughly $13,000, with responsible individuals facing five to seven years. The draft also mandates that most crypto transactions occur through commercial bank applications and imposes penalties on unregistered industrial-scale crypto miners.
The legislation requires approval from the State Duma and the President to take effect. If passed, the new regulations are scheduled to come into force on July 1, 2027.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Historic First Year: SEC Under Atkins Resets Crypto Policy With Focus on Clarity and Growth
The SEC is positioning its first year under Paul Atkins as a turning point toward clearer regulation and stronger markets. The SEC Chair described it as a historic year, stating the agency delivered on its promises.
Key Takeaways:
SEC emphasized regulatory clarity as key to stronger U.S.
Coinpedia4m ago
Senator Tillis Pushes CLARITY Act Markup Delay to May Amid Stablecoin Yield Dispute
Sen. Tillis requests delaying CLARITY Act markup to May due to unresolved stablecoin yield provisions, as banks seek tighter restrictions and crypto groups push to keep yield offerings; White House talks failed, delaying action.
GateNews1h ago
Philippines SEC Warns Against 7 Unregistered Crypto Trading Platforms Including dYdX, Orderly
Summary: SEC Philippines warns about seven unregistered crypto platforms (dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, Ostium) under CASP; promoters may face fines up to PHP 5 million or 21 years' jail.
Abstract: The Philippines’ SEC issued an investor warning identifying seven unregistered cryptocurrency trading platforms (dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, Ostium) not registered under the Crypto Asset Service Provider framework. It cautions that promoting these platforms in the Philippines may incur criminal liability, with penalties including fines up to PHP 5 million and up to 21 years’ imprisonment.
GateNews1h ago
BIS Warns Dollar-Denominated Stablecoins Like USDT and USDC Pose Financial Stability Risk
Gate News message, April 21 — The Bank for International Payments (BIS) has reiterated concerns about stablecoins, with Managing Director Pablo Hernandez de Cos warning that dollar-denominated stablecoins such as USDT and USDC are fundamentally riskier than commonly perceived.
Cos stated that
GateNews1h ago
39 Signatories Call for EU to Fast-Track DLT Pilot Regime Review Amid US Competition Concerns
Gate News message, April 21 — Thirty-nine digital finance providers, including major exchanges and fintech associations from six European nations, are urging the European Commission and European Parliament to expedite a review of the DLT pilot regime as standalone legislation.
The signatories,
GateNews1h ago
Curve Founder Egorov Criticizes DeFi Architecture After $750M in Losses This Year
Gate News message, April 21 — DeFi depositors faced withdrawal issues over the weekend across major protocols including Aave, rsETH, and LayerZero, prompting Curve Finance founder Michael Egorov to publicly criticize the industry's architectural approach. "Are we an industry of clowns?" Egorov
GateNews2h ago
