The volume of money substitutes in the Russian Federation will involve up to 4 years of imprisonment

The Ministry of Finance has prepared amendments to the criminal code that impose liability for the circulation of money substitutes. Earlier, the head of Department Anton Siluanov gave this definition of cryptocurrency, writes “Interfax”.

The legality of cryptocurrencies in Russia

We are talking about creating a group of individuals of monetary surrogates, which obviously aims to replace the calculations in rubles, “even if it did not carry losses or other tax and is not recognized as a fraud.”

Will be a period of near four years, but only for collective schemes, which include a large number of objects and volumes.

If not ruble currency are calculated by private and legal entities, they face administrative liability to a fine, said Deputy Finance Minister Alexander Moiseev. Date of adoption of the amendments is unknown.

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