Russian State Duma Approves Criminal Liability for Illegal Crypto Exchange

The State Duma of the Russian Federation has approved legislation introducing criminal liability for unauthorized cryptocurrency exchange operations. The measure establishes legal consequences for entities conducting digital asset transactions without proper regulatory authorization.

Legislative Scope and Compliance

The approved provision targets unlicensed financial intermediaries involved in crypto trading activities. Lawmakers designed the clause to align domestic digital asset operations with federal financial oversight requirements. The text outlines specific penalties for organizations that facilitate cryptocurrency conversions outside the regulated framework. This legislative step requires further parliamentary procedures before final enactment.