🔥 🇷🇺 RUSSIA’S CRYPTO CRACK-DOWN: JAIL TERMS On The Horizon! ⚖️💥
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🚨 What’s unfolding:
Civic Chamber of the Russian Federation (the public-advisory body in Russia) is pushing to classify cryptocurrency transfers and foreign currency dealings as illegal, and to introduce criminal liability for such operations — drawing parallels with the Soviet-era currency laws.
According to one member, Evgeny Masharov, the goal is to treat illicit crypto flows as part of foreign-exchange violations — with the Federal Security Service (FSB) taking the lead in investigations.
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📌 Key details:
The proposal would treat digital asset transfers, especially those crossing borders or used to bypass sanctions or evade currency rules, as subject to criminal prosecution.
It draws a direct line back to Soviet-era laws governing currency operation offences. In the USSR, violations of currency rules could carry heavy penalties — up to 15 years in prison, or worse.
Russia is also working to formally classify crypto assets as property under its legal framework — meaning courts could seize wallets, seed phrases, and block transactions.
With money laundering, sanctions-evasion and “hidden” crypto flows suspected to be rife, the authorities argue this is a necessary step.
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🔍 Why it matters (and the broader implications):
This marks a major regulatory shift in one of the world’s biggest crypto-markets. What was once tolerated (mined, traded, transferred) is now facing the possibility of being treated as a serious crime.
For the global crypto community, this means that Russian users, exchanges, or anyone handling crypto that touches Russia could now face criminal exposure.
It sends a signal: states are not only watching crypto—they are moving to punish unapproved flows, especially where they intersect with sanctions, capital flight or foreign currency restrictions.
For investors or operators: the window of “grey-zone” operations may be closing. Risk calculations must now include legal/regulatory
