According to draft bills submitted by a group of deputies to the Russian parliament recently, individuals may face up to seven years in prison and fines of up to $7,000 for using
BTC in financial transactions.
People will also be penalized for buying
crypto with
cash or transferring to accounts opened with Russian banks.
If signed into law, the bills will punish companies that issue or operate virtual currencies without approval from the Russian central bank, with fines of up to two million rubles or about $28,000.
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