{"id":3948,"date":"2020-05-24T13:09:51","date_gmt":"2020-05-24T13:09:51","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=3948"},"modified":"2020-05-24T13:09:51","modified_gmt":"2020-05-24T13:09:51","slug":"russian-lawmakers-propose-bill-that-puts-a-total-ban-on-crypto-up-to-7-years-in-prison","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/russian-lawmakers-propose-bill-that-puts-a-total-ban-on-crypto-up-to-7-years-in-prison\/","title":{"rendered":"Russian Lawmakers Propose Bill That Puts A Total Ban On Crypto; Up to 7 Years in Prison"},"content":{"rendered":"<p style=\"text-align: center;\"><iframe style=\"border: none;\" src=\"https:\/\/rcm-eu.amazon-adsystem.com\/e\/cm?o=2&amp;p=48&amp;l=ur1&amp;category=piv&amp;banner=0CQ53D02W107RHR3JVR2&amp;f=ifr&amp;linkID=637c38512195676f2929dc336ef7c101&amp;t=atozcryptosto-21&amp;tracking_id=atozcryptosto-21\" width=\"728\" height=\"90\" frameborder=\"0\" marginwidth=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><a href=\"https:\/\/www.amazon.co.uk\/b?_encoding=UTF8&amp;tag=atozcryptosto-21&amp;linkCode=ur2&amp;linkId=86e8cea9df60744a5a95921205f1f6a9&amp;camp=1634&amp;creative=6738&amp;node=17477985031\" target=\"_blank\" rel=\"noopener noreferrer\">Protect your digital assets and keep your data secured offline. click here <\/a><img decoding=\"async\" style=\"border: none !important; margin: 0px !important;\" src=\"\/\/ir-uk.amazon-adsystem.com\/e\/ir?t=atozcryptosto-21&amp;l=ur2&amp;o=2\" alt=\"\" width=\"1\" height=\"1\" border=\"0\" \/><\/p>\n<p>Russia&#8217;s Duma and Ministry of economic development present wholly different attitudes towards crypto, leaving many in the industry with headache-inducing confusion.<\/p>\n<p>The law is getting tougher on cryptocurrencies in Russia as lawmakers propose a draconian law to curb the use of cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) within the country.<\/p>\n<p>According to the Russian publication, <a href=\"https:\/\/www.rt.com\/russia\/489336-russia-law-prisons-cryptocurrencies\/\">RT<\/a>, members of the State Duma \u2013 Russia\u2019s parliament \u2013 are proposing a 500,000-2 million rubles fine, or five to seven years imprisonment for the illicit use of cryptocurrencies in Russia.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><iframe style=\"width: 120px; height: 240px;\" src=\"\/\/ws-eu.amazon-adsystem.com\/widgets\/q?ServiceVersion=20070822&amp;OneJS=1&amp;Operation=GetAdHtml&amp;MarketPlace=GB&amp;source=ss&amp;ref=as_ss_li_til&amp;ad_type=product_link&amp;tracking_id=atozcryptosto-21&amp;language=en_GB&amp;marketplace=amazon&amp;region=GB&amp;placement=B07MBH6BPW&amp;asins=B07MBH6BPW&amp;linkId=2229b16f39e223b7931d6352fb13125a&amp;show_border=true&amp;link_opens_in_new_window=true\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.amazon.co.uk\/b?_encoding=UTF8&amp;tag=atozcryptosto-21&amp;linkCode=ur2&amp;linkId=86e8cea9df60744a5a95921205f1f6a9&amp;camp=1634&amp;creative=6738&amp;node=17477985031\" target=\"_blank\" rel=\"noopener noreferrer\">Protect your digital assets and keep your data secured offline. click here <\/a><img decoding=\"async\" src=\"https:\/\/ir-uk.amazon-adsystem.com\/e\/ir?t=atozcryptosto-21&amp;l=ur2&amp;o=2\" alt=\"\" width=\"1\" height=\"1\" border=\"0\" \/><span style=\"display: inline !important; float: none; background-color: #ffffff; color: #333333; cursor: text; font-family: Georgia,'Times New Roman','Bitstream Charter',Times,serif; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; -webkit-text-stroke-width: 0px; white-space: normal; word-spacing: 0px;\">\u00a0<\/span><\/p>\n<p>While the law won&#8217;t place a blanket ban on cryptocurrencies, some analysts say this move amounts to a total ban on crypto.<\/p>\n<p>If the law passes, then crypto use in Russia; from activities like <a href=\"https:\/\/bitcoinexchangeguide.com\/cryptocurrency-news\/blockchain\/mining\/\">crypto mining<\/a>, running a crypto exchange, trading, and transacting fiat-to-crypto through any Russian financial institution will be illegal.<\/p>\n<p>According to the publication, the amendments on the financial assets bill proposed fines from 50,000 rubles ($706) to 500,000 rubles ($7,000) for individuals that earn a \u201clarge income\u201d from crypto. The bill further proposes a 2 million Rubles ($28,240) fine on legal entities that help in these illicit transactions, transfers and issuance of <a href=\"https:\/\/bitcoinexchangeguide.com\/cryptocurrency-news\/coins\/\">cryptocurrencies<\/a> in Russia.<\/p>\n<p>Notwithstanding, users who use crypto payment channels will be liable to a fine of 20,000 rubles ($280) up to 200,000 rubles ($2,800). Legal entities accepting crypto transactions will be fined from 100,000 rubles ($1,400) up to 1 million rubles ($14,000).<\/p>\n<p><a href=\"https:\/\/www.amazon.co.uk\/b?_encoding=UTF8&amp;tag=atozcryptosto-21&amp;linkCode=ur2&amp;linkId=86e8cea9df60744a5a95921205f1f6a9&amp;camp=1634&amp;creative=6738&amp;node=17477985031\" target=\"_blank\" rel=\"noopener noreferrer\">Protect your digital assets and keep your data secured offline. click here <\/a><img decoding=\"async\" src=\"https:\/\/ir-uk.amazon-adsystem.com\/e\/ir?t=atozcryptosto-21&amp;l=ur2&amp;o=2\" alt=\"\" width=\"1\" height=\"1\" border=\"0\" \/><span style=\"display: inline !important; float: none; background-color: #ffffff; color: #333333; cursor: text; font-family: Georgia,'Times New Roman','Bitstream Charter',Times,serif; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; -webkit-text-stroke-width: 0px; white-space: normal; word-spacing: 0px;\">\u00a0<\/span><\/p>\n<h2>The Confused State of Russian Crypto Users<\/h2>\n<p>Amidst the recent change of heart from the Russian government on cryptocurrency operations, many investors remain perplexed about what direction the Russian government is taking.<\/p>\n<p>Recently, the Bank of Russia (BoR) released a <a href=\"https:\/\/bitcoinexchangeguide.com\/russia-may-ban-crypto-trading-and-usage-after-central-bank-updates-draft-bill\/\">revised bill<\/a> on the regulation of digital assets across the country, banning the issuance of crypto due to the inherent risks of the industry.<\/p>\n<p>\u201cWe believe there are big risks in legalizing the operations of the cryptocurrencies. From the standpoint of financial stability, money-laundering prevention and consumer protection.\u201d \u2013 Alex Guznov, BoR head of legal office speaking on the revised crypto bill, March 2019.<\/p>\n<p>However, the Russian Federal Ministry of Economic Development recently <a href=\"https:\/\/bitcoinexchangeguide.com\/russian-economic-ministry-to-create-crypto-and-blockchain-regulatory-sandboxes-in-new-bill\/\">proposed<\/a> new legislation to legalize crypto, as well as blockchain-based initiatives through a special regulatory framework.<\/p>\n<p>First published on https:\/\/bitcoinexchangeguide.com\/russian-lawmakers-propose-bill-that-puts-a-total-ban-on-crypto-up-to-7-years-in-prison\/ <a href=\"https:\/\/www.amazon.co.uk\/b?_encoding=UTF8&amp;tag=atozcryptosto-21&amp;linkCode=ur2&amp;linkId=86e8cea9df60744a5a95921205f1f6a9&amp;camp=1634&amp;creative=6738&amp;node=17477985031\" target=\"_blank\" rel=\"noopener noreferrer\">Protect your digital assets and keep your data secured offline. click here <\/a><img decoding=\"async\" src=\"https:\/\/ir-uk.amazon-adsystem.com\/e\/ir?t=atozcryptosto-21&amp;l=ur2&amp;o=2\" alt=\"\" width=\"1\" height=\"1\" border=\"0\" \/><span style=\"display: inline !important; float: none; background-color: #ffffff; color: #333333; cursor: text; font-family: Georgia,'Times New Roman','Bitstream Charter',Times,serif; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; -webkit-text-stroke-width: 0px; white-space: normal; word-spacing: 0px;\">\u00a0<\/span><\/p>\n<p>Graphic from bitcoin.com<\/p>\n<p><a href=\"https:\/\/www.amazon.co.uk\/b?_encoding=UTF8&amp;tag=atozcryptosto-21&amp;linkCode=ur2&amp;linkId=86e8cea9df60744a5a95921205f1f6a9&amp;camp=1634&amp;creative=6738&amp;node=17477985031\" target=\"_blank\" rel=\"noopener noreferrer\">Protect your digital assets and keep your data secured offline. click here <\/a><img decoding=\"async\" src=\"https:\/\/ir-uk.amazon-adsystem.com\/e\/ir?t=atozcryptosto-21&amp;l=ur2&amp;o=2\" alt=\"\" width=\"1\" height=\"1\" border=\"0\" \/><span style=\"display: inline !important; float: none; background-color: #ffffff; color: #333333; cursor: text; font-family: Georgia,'Times New Roman','Bitstream Charter',Times,serif; font-size: 16px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; -webkit-text-stroke-width: 0px; white-space: normal; word-spacing: 0px;\">\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><iframe style=\"width: 120px; height: 240px;\" src=\"\/\/ws-eu.amazon-adsystem.com\/widgets\/q?ServiceVersion=20070822&amp;OneJS=1&amp;Operation=GetAdHtml&amp;MarketPlace=GB&amp;source=ss&amp;ref=as_ss_li_til&amp;ad_type=product_link&amp;tracking_id=atozcryptosto-21&amp;language=en_GB&amp;marketplace=amazon&amp;region=GB&amp;placement=B07G4N26J4&amp;asins=B07G4N26J4&amp;linkId=74e313c003245b0f6d8984c42f403c62&amp;show_border=true&amp;link_opens_in_new_window=true\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Protect your digital assets and keep your data secured offline. click here Russia&#8217;s Duma and Ministry of economic development present wholly different attitudes towards crypto, leaving many in the industry with headache-inducing confusion. The law is getting tougher on cryptocurrencies in Russia as lawmakers propose a draconian law to curb the use of cryptocurrencies such &hellip;<\/p>\n","protected":false},"author":1,"featured_media":3949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pgc_meta":"","_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[61],"tags":[],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Russian Lawmakers Propose Bill That Puts A Total Ban On Crypto; Up to 7 Years in Prison - AtoZcrypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/atozcrypto.org\/russian-lawmakers-propose-bill-that-puts-a-total-ban-on-crypto-up-to-7-years-in-prison\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russian Lawmakers Propose Bill That Puts A Total Ban On Crypto; Up to 7 Years in Prison - AtoZcrypto\" \/>\n<meta property=\"og:description\" content=\"Protect your digital assets and keep your data secured offline. click here Russia&#8217;s Duma and Ministry of economic development present wholly different attitudes towards crypto, leaving many in the industry with headache-inducing confusion. 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The law is getting tougher on cryptocurrencies in Russia as lawmakers propose a draconian law to curb the use of cryptocurrencies such &hellip;","og_url":"https:\/\/atozcrypto.org\/russian-lawmakers-propose-bill-that-puts-a-total-ban-on-crypto-up-to-7-years-in-prison\/","og_site_name":"AtoZcrypto","article_published_time":"2020-05-24T13:09:51+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/atozcrypto.org\/wp-content\/uploads\/2020\/05\/russian-laws.jpg","type":"image\/jpeg"}],"author":"AtoZcrypto","twitter_card":"summary_large_image","twitter_misc":{"Written by":"AtoZcrypto","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/atozcrypto.org\/russian-lawmakers-propose-bill-that-puts-a-total-ban-on-crypto-up-to-7-years-in-prison\/","url":"https:\/\/atozcrypto.org\/russian-lawmakers-propose-bill-that-puts-a-total-ban-on-crypto-up-to-7-years-in-prison\/","name":"Russian Lawmakers Propose Bill That Puts A Total Ban On Crypto; Up to 7 Years in Prison - AtoZcrypto","isPartOf":{"@id":"https:\/\/atozcrypto.org\/#website"},"datePublished":"2020-05-24T13:09:51+00:00","dateModified":"2020-05-24T13:09:51+00:00","author":{"@id":"https:\/\/atozcrypto.org\/#\/schema\/person\/4385199dcdeec6bd69b0fb4158673b0b"},"breadcrumb":{"@id":"https:\/\/atozcrypto.org\/russian-lawmakers-propose-bill-that-puts-a-total-ban-on-crypto-up-to-7-years-in-prison\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/atozcrypto.org\/russian-lawmakers-propose-bill-that-puts-a-total-ban-on-crypto-up-to-7-years-in-prison\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/atozcrypto.org\/russian-lawmakers-propose-bill-that-puts-a-total-ban-on-crypto-up-to-7-years-in-prison\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/atozcrypto.org\/"},{"@type":"ListItem","position":2,"name":"Russian Lawmakers Propose Bill That Puts A Total Ban On Crypto; Up to 7 Years in Prison"}]},{"@type":"WebSite","@id":"https:\/\/atozcrypto.org\/#website","url":"https:\/\/atozcrypto.org\/","name":"AtoZcrypto","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/atozcrypto.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/atozcrypto.org\/#\/schema\/person\/4385199dcdeec6bd69b0fb4158673b0b","name":"AtoZcrypto","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/atozcrypto.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e2c8254f59dd013c234edbb46471dfe8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e2c8254f59dd013c234edbb46471dfe8?s=96&d=mm&r=g","caption":"AtoZcrypto"}}]}},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/posts\/3948"}],"collection":[{"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/comments?post=3948"}],"version-history":[{"count":3,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/posts\/3948\/revisions"}],"predecessor-version":[{"id":3952,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/posts\/3948\/revisions\/3952"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/media\/3949"}],"wp:attachment":[{"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/media?parent=3948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/categories?post=3948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/tags?post=3948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}