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According to media, the RF Ministry of Finance proposes to introduce criminal liability for issuance of cryptocurrency (electronic payment instrument).

DATE: September 29, 2015 | AUTHOR: atlawyers

According to media, the RF Ministry of Finance proposes to introduce criminal liability for issuance of cryptocurrency (electronic payment instrument). For this purpose it is proposed to introduce an article “Quasi-money turnover” into the RF Criminal code, which shall provide criminal fine in the amount up to 500 000 RUR and corrective labor for a term up to two years as sanctions. The RF Ministry of Finance specifies that virtual currency use may increase risks of money laundering.

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