Russian authorities are accelerating cryptocurrency regulation with the introduction of a new bill seeking to govern the issuance of cryptocurrencies.
A bill under consideration before the country’s parliament spells out that individuals or companies involved in the illegal issuance of cryptocurrencies will be subject to significant fines.
According to the bill by Anatoly Aksakov, if adopted into law, individuals will be fined up to 5,000 Russian rubles ( $90) and 30,000 ($550) for officials. Legal entities will part with a fine of between 700,000 and 1,000,000 rubles.
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