In a recent development, the Russian government has introduced a bill before its lower legislative house to criminalize the operation of unregistered crypto services in the country. Unlicensed Crypto Operators To Face Up To Four Years In Prison In a bill prop…
Russia Proposes Legislation To Criminalize Unlicensed Crypto Operations
Russia has proposed a bill to criminalize unlicensed cryptocurrency operations, imposing prison sentences of up to four years for non-compliance. The legislation targets unregistered crypto service providers, exchanges, and wallets operating in the country, with potential disruptions to financial services and digital asset ecosystems. Compliance with licensing requirements is now critical for affected entities.