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For violation of the rules of cryptocurrency trade, the Russians will be fined up to 500 thousand rubles

Up to 500 thousand rubles will have to lay out the ordinary Russian citizen for the exchange of digital rights that are not legally or not corresponding to the characteristics of their content. Officials face fines ranging from 100 thousand to 1 million rubles, and for legal entities from 200 thousand to 2 million rubles. The bill has already been written and the bill will enter into force on October 1, 2019.

According to Dmitry Galushko, a member of the working group at the ANO Digital Economy, the zaknoproekt "was specifically made to prevent the proliferation of illegal cryptocurrency."

According to the draft law, if persons who are not included in the register of information system operators release a digital financial asset, they face a fine from 50 to 500 thousand rubles for citizens, from 100 thousand to 1 million rubles. for officials and from 200 thousand to 2 million rubles. for legal entities. The same penalty is provided for transactions with a cryptocurrency by persons not included in the register of operators of the exchange of digital financial assets. Such registers will be maintained by the Bank of Russia in accordance with the forthcoming Federal Law “On digital financial assets”.

The draft law also states that for accepting digital financial assets as a counter-provision for goods (services) by legal entities or individual entrepreneurs who trade in violation of the procedure for conducting transactions with digital financial assets provided for by the Federal Law “On digital financial assets”, a fine is imposed from 200 thousand to 1 million rubles. on officials and from 400 thousand to 2 million on legal.

The draft law provides for liability for failure to comply with the law “On digital financial assets”, which has been adopted so far only in the first reading.

The document also states that owners of digital financial assets are entitled to exchange them for rubles, foreign currency, or other property, but only through the operator of the exchange of digital financial assets. At the same time, transactions on the exchange of digital financial assets by persons other than qualified investors are carried out only by crediting or debiting digital financial assets from a special account opened by the digital assets operator owning a digital wallet. And the procedure for conducting such transactions establishes the Central Bank of Russia.


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