Russia’s proposed crypto amendments have a major blind spot By Cointelegraph


Russia’s proposed crypto amendments have a major blind spot

Russia’s vast oversight of cryptocurrency transactions appears to have one crucial blindspot: There doesn’t seem to be any liability for criminals who use digital assets to conduct illegal transactions.

On Thursday, Russia’s Ministry of Finance proposed new amendments to the country’s cryptocurrency laws that seek to clarify rules around tax evasion. Under the proposed guidelines, Russians can face up to three years in prison for failing to report transactions of 45 million rubles ($583,000) or more at least twice in three years