RIA Novosti: The Central Bank proposes penalties for organizing the issuance and circulation of cryptocurrencies in Russia

This is stated in one of the bills available to RIA Novosti.

“Failure to comply with the ban on the functioning in the Russian Federation of legal entities or the ban on the activities of individuals that contribute (facilitate) the organization of the issue and (or) the issue, the organization of the circulation of private digital currency on the territory of the Russian Federation and outside the territory of the Russian Federation, entails the imposition of an administrative fine for citizens and officials from 300 thousand to 500 thousand rubles;

for legal entities from 700 thousand to one million rubles,” the document says.

Earlier, the head of the Russian Ministry of Finance, Anton Siluanov, said that Russia is studying the experience of other countries in taxing cryptocurrencies.

He also noted that the Ministry of Finance opposes the ban on mining in the country.

According to him, the department wants to legalize this area and introduce taxation.

The Minister also noted that the Ministry of Finance supports the position of the Central Bank on the need to ban payments in cryptocurrency within the country, by analogy with payments in foreign currency.

An expert in the field of cryptocurrencies and mining, Evgeny Kaminsky, spoke about the prospects of the market in an interview with the FBA "Economy Today".