Russia Targets Organizers of Unlicensed Crypto Circulation

Russia is considering introducing criminal liability for organizing the circulation of digital currency without a license or inclusion in a special register, according to Deputy Finance Minister Ivan Chebeskov.

The proposed offense would target organizers of such transactions, not ordinary cryptocurrency holders who manage their own assets. However, the qualification of the violation will depend on the amount of income received or the damage caused.

The tax part of the initiative is related to operations outside the regulated infrastructure, specifically through non-custodial wallets. Residents would be required to send information about such operations to the Federal Tax Service (FNS) no later than 180 days after the tax service approves the forms and methods for submitting notifications.