BREAKING NEWS!!

Trading cryptocurrencies in Russia may soon become a crime, and their owners can go to prison for many years!!

A new act has just arrived in the Russian parliament, thanks to which Russia could regulate digital assets to the detriment of users and even completely outlaw them!!

According to the new provision, a punishment imposed for trading digital assets could be between 500,000 and 2 million rubles for people who earn "big money" through it.

However, people using cryptocurrencies for illegal activities, e.g. money laundering, could be imprisoned for up to 7 years.

The new law does not provide for a total ban on the use of cryptocurrencies, but some analysts believe that its approval by the government will completely outlaw it.

If the new law is adopted, activities such as mining, running stock exchanges and trading crypto-fiat through any Russian financial institution will become ILLEGAL !!

Due to the recent change of the Russian government's position on cryptocurrencies, many investors are concerned about the situation.

Recently, the Russian Central Bank has published an amended project on the regulation of digital assets, which prohibits the issuance of cryptocurrencies due to the risks associated with them.