The State Duma has passed in the first reading a high-profile bill introducing criminal liability for the illegal organization of digital currency circulation in Russia. This refers to activities conducted without state registration or a special permit (license) that generate large-scale income or cause significant damage to citizens, companies, or the state.
This document is a key element of the government's package of measures to regulate cryptocurrency turnover. The provisions are expected to come into force on July 1, 2027, giving the market time to adapt, but simultaneously sending a clear signal: shadow activities in this sphere will no longer be tolerated.
What penalties are provided for by the bill
For the illegal organization of cryptocurrency circulation on a large scale, a fine of 100,000 to 300,000 rubles is stipulated, or in the amount of the convicted person's income for a period of one to two years. An alternative could be compulsory labor or imprisonment for up to four years. Additionally, the court may impose an additional fine of up to 80,000 rubles or in the amount of income for a period of up to six months.
Liability is significantly increased if the act is committed by an organized group or involves causing damage or extracting income on an especially large scale. In such cases, the maximum penalty reaches seven years of imprisonment, with or without a fine of up to 1,000,000 rubles or in the amount of the convicted person's income for a period of up to five years.
Let me remind you that, as a general rule under Chapter 22 of the Criminal Code, large-scale damage or income is considered to be an amount exceeding 3.5 million rubles, and especially large-scale — over 13.5 million rubles.
Who will investigate such cases
Simultaneously, amendments are being made to the Code of Criminal Procedure. Preliminary investigations into cases of this category will be conducted by investigators from the Investigative Committee of the Russian Federation and the FSB of Russia. This underscores that the state views illegal crypto turnover not as an administrative offense, but as a threat to economic security.
My analysis: This step is a logical continuation of the policy of "tightening the screws" on the cryptocurrency market. Although the law will not come into force for more than three years, market participants should already consider legalizing their activities. Ignoring these signals could result not just in fines, but in real prison terms. The P2P exchange market and unlicensed exchangers in Russia are entering a high-risk zone.