Russia proposes a new bill making unregistered crypto services illegal. Those offering services without Bank of Russia registration may face fines and jail time, impacting the crypto landscape.

Russia is considering a new law that would require individuals and groups to register with the Bank of Russia before providing certain cryptocurrency services. Failure to comply could result in significant penalties, including fines and imprisonment. This move signals a stricter regulatory approach to digital assets within the country, aiming to bring crypto activities under official oversight and potentially curb illicit financial flows.