The bill on liability for the use of cryptocurrencies in Russia in payments provides for fines from 100 thousand rubles. for individuals and from 700 thousand rubles. For legal entities. This was told by the director of the legal department of the Bank of Russia Andrei Medvedev during the session “Mining through the prism of relevant legal regulation” at the XIII St. Petersburg International Law Forum, writes RBC Crypto.
The bill on liability for payments in cryptocurrencies is now in the State Duma and was developed by the regulator together with the Ministry of Finance. According to Medvedev, the document will be complemented by the Code of the Russian Federation on administrative offenses (Code of Administrative Offenses) Article 15.49, in which there will be four compositions. The first part of the article shall introduce liability for the use of digital currency as a means of payment, the lawyer added.
“The responsibility is quite tough against the general background of the Code of Administrative Offenses: for individuals 100-200 thousand rubles, for legal entities 700 thousand – 1 million rubles. But the key is the digital currency that was used illegally as a payment, it will be confiscated, such the most painful phenomenon will be, ”Medvedev said.
He noted that the Bank of Russia retains a consistent immutable position on the inadmissibility of the use of digital currencies as a counter provision (payment), which is directly recorded in the “Law on the TsFA” (259-ФЗ). “For us, this is indisputable truth, which we will protect with all our might,” the lawyer added.
According to the lawyer, in this regard, the new provisions of the Code of Administrative Offenses are highly hopes. That prohibitive norm, which is now in 259 law, will be strengthened by this mechanism of responsibility, Medvedev explained.
In terms of using cryptocurrencies for foreign economic activity purposes, “taking into account the severity of the moment, digital currencies can and should be used,” the lawyer emphasized. At the same time, the form of the experimental legal regime (EPR), which was chosen for this, is most acceptable, since it allows you to quickly identify the risks that can be realized in the process, and adapt an adaptive to them, Medvedev explained.
Elvira Nabiullina, the head of the Bank of Russia, said in early April, said that the responsibility for the use of cryptocurrencies in the calculations within the country. But she added that the Central Bank is ready to allow investments in cryptocurrencies within the country, but only for some market participants.
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Source: Cryptocurrency
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