Russia plans to seize crypto in new crackdown on local payments
Russian authorities are intensifying their crackdown on domestic crypto payments with a new bill that proposes steep penalties and asset seizures.
According to local reports, the Ministry of Finance and the Central Bank have jointly submitted draft legislation that could see individuals fined up to 200,000 rubles and companies penalized up to 1 million rubles (approximately $12,500) for using crypto within the country.
The Russian Central Bank’s legal director, Andrei Medvedev, said the bill formalizes existing restrictions and reinforces the state’s position that using digital assets for local payments is illegal.
Medvedev noted that although the current legal code already discourages such activity, the proposed legislation adds a…
