The Ministry of Finance again raised the issue of criminal …

The Ministry of Finance again raised the issue of criminal and administrative liability for cryptocurrencies

The Ministry of Finance has submitted amendments to the law “On digital financial assets” for interdepartmental approval, which imply strict restrictions on the circulation of cryptocurrencies and the receipt of rewards in bitcoin and ether for miners. Izvestia writes about this with reference to the text of the document.

According to the proposal, there can be only three acceptable scenarios for using cryptocurrencies, and there are no mining rewards among them. Administrative and criminal liability is introduced for transactions with digital currency. Mining itself is not prohibited, but it loses its financial sense, since it will be impossible to receive payment for it in the only available form – the own asset of the distributed network.

For violations for citizens, a fine of up to 100,000 rubles and a period of up to seven years is provided, for legal entities – up to 1 million rubles of a fine. Experts believe that miners can come up with legal structures in order to continue their activities under the new legislation, but this does not exclude the risks of liability.

Only inheritance, the receipt of assets within the framework of bankruptcy and enforcement proceedings are considered acceptable operations with cryptocurrencies for individuals. All other actions are directly prohibited.

The letter from the Ministry of Finance confirms that the authorities are not going to develop a separate law to regulate the circulation of cryptocurrencies. The document proposes to supplement the law on CFA with provisions on the circulation of virtual money.

The Ministry of Finance again raised the issue of criminal ...

Lawyers interviewed by the publication noted that the document requires substantial revision. Managing partner of the law firm “EK&P “Efim Kazantsev described the measures proposed by the Ministry of Finance as” extremely tough and, in fact, establishing a total ban on the circulation of cryptocurrency in Russia “.

Earlier, the Deputy Minister of Justice Denis Novak criticized similar measures. He stated that they will create uncertainty regarding the sale of cryptocurrencies within the framework of enforcement proceedings, since their purchase in the Russian Federation will be prohibited..

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