The Russian State Duma Committee recommends passing the digital currency penalty bill on its first reading, with a maximum sentence of seven years.

Foresight News reported, citing TASS, that the Russian State Duma's Committee on State Building and Legislation has recommended passing a bill at first reading that stipulates violators of digital currency laws could face up to seven years in prison.

In April, the Russian government proposed a bill to introduce a new provision into the Criminal Code, imposing penalties for the illegal organization of cryptocurrency circulation if the crime causes significant harm to individuals, organizations, or the state, or generates substantial profits. The proposed penalties include: a fine ranging from 100,000 to 300,000 rubles, up to four years of forced labor, or up to four years of imprisonment and an additional fine of up to 80,000 rubles. If such crimes are committed by an organized group or cause particularly large-scale damage, the punishment increases to up to five years of forced labor or up to seven years of imprisonment, with a maximum fine of 1 million rubles. The bill proposes that amounts exceeding 3.5 million rubles be considered as causing significant loss or income, while amounts over 13.5 million rubles be recognized as especially significant loss or income.