In Russia, they prepared a bill on fines up to 1 million rubles for illegal issuance of digital assets

The Russian State Duma introduced a bill proving administrative liability for illegal issuance and exchange of digital financial assets (Tsf).

Issuing such assets to persons who are not included in the register of operators of the TsFA or operators of investment platforms, faces a fine in the amount of:

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• 3000-5000 rubles for individuals;
• 20,000-30,000 rubles for officials;
• 700,000-1,000,000 rubles for legal entities.

Non -compliance with the requirements of the legislation on digital rights when making transactions with the TsFA entails similar fines for individuals and officials. For legal entities, it will be from 500,000 to 700,000 rubles.

The statute of limitations for prosecution is a year from the date of the execution of the corresponding offense, follows from the document.

The author of the initiative was the head of the committee on the financial market Anatoly Aksakov.

In May, the State Duma also adopted in the first reading a draft law on taxation of operations with the Tsf. FORKLOG surveyed lawyers noted that it does not apply to cryptocurrencies.

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