{"id":58067,"date":"2022-02-18T14:12:13","date_gmt":"2022-02-18T12:12:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58067"},"modified":"2025-09-04T14:51:45","modified_gmt":"2025-09-04T11:51:45","slug":"media-bank-of-russia-drafts-bills-to-ban-bitcoin-and-impose-fines-up-to-1-million-rubles","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-bank-of-russia-drafts-bills-to-ban-bitcoin-and-impose-fines-up-to-1-million-rubles\/","title":{"rendered":"Media: Bank of Russia drafts bills to ban Bitcoin and impose fines up to 1 million rubles"},"content":{"rendered":"

The Bank of Russia has prepared draft laws to ban the issuance and circulation of ‘private digital currencies’ in Russia, according to \u0422\u0410\u0421\u0421<\/a>.<\/p>\n

The regulator proposed fines for organizing the issuance or circulation of cryptocurrencies by individuals from 300 000 to 500 000 rubles, and for legal entities up to 1 million rubles. For accepting payments \u2014 up to 50 000 rubles and up to 1 million rubles, respectively, according to \u00ab\u0420\u0418\u0410 \u041d\u043e\u0432\u043e\u0441\u0442\u0438\u00bb<\/a>. The bans apply to crypto assets issued both in Russia and abroad.<\/p>\n

The Bank of Russia wants to prohibit banks and other financial institutions from owning cryptocurrencies and to restrict transfers to persons connected with the issuance and circulation of such assets.<\/p>\n

In addition, the Bank of Russia seeks to consolidate powers to adjudicate offences by financial institutions that fail to comply with the prohibitions.<\/p>\n

The Bank of Russia also drafted a ban on disseminating information about cryptocurrencies.<\/p>\n

ForkLog sought comment from the Bank of Russia.<\/p>\n

According to sources familiar with the situation, the regulator has sent its draft laws to the Ministry of Finance.<\/p>\n

Experts told ForkLog that cryptocurrency investors would be forced to leave Russia if the central bank’s proposals are approved.<\/p>\n

Earlier in January, the Bank of Russia released a report<\/a> in which it called for a complete ban on the circulation and mining of cryptocurrencies in Russia.<\/p>\n

The government, the State Duma and security agencies do not support<\/a> the Bank of Russia’s position on cryptocurrencies. In the Ministry of Finance they said<\/a> that the industry should be regulated, not banned, and presented their own concept. Its was approved<\/a> by the government.<\/p>\n

The Bank of Russia criticised<\/a> the concept and continued<\/a> to insist on the need to ban cryptocurrencies.<\/p>\n

In the Ministry of Finance, they said that if there is no consensus with the Bank of Russia on market regulation, the ministry will submit to the government a package of draft laws with a table of disagreements<\/a>.<\/p>\n

Read ForkLog’s bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Russian central bank prepared draft laws to ban issuance and circulation of ‘private digital currencies’ in Russia.<\/p>\n","protected":false},"author":1,"featured_media":58068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[345,1451],"class_list":["post-58067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-russia","tag-bitcoin-regulation-in-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=58067"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58067\/revisions"}],"predecessor-version":[{"id":58069,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58067\/revisions\/58069"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/58068"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=58067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=58067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=58067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}