A bill introducing financial penalties for those who illegally issue or exchange digital financial assets has been filed in the Russian parliament. The legislation has been submitted by the sponsor of another draft law banning their use as a means of payment.
New Bill Targets Russian Platforms Issuing and Trading Digital Currencies Outside Law
Persons and entities illegally issuing digital financial assets (DFAs), the current definition of cryptocurrencies in Russia, will have to pay hefty fines, according to a bill recently submitted to the State Duma, the lower house of Russian parliament.
If the legislation is adopted, the penalties will be imposed on companies that are not registered with the state as exchange or investment platform operators, the crypto news outlet Forklog reported on Thursday,