The Ministry of Finance in preparing the draft law on regulation of digital assets will make amendments to the criminal code. In particular, the Agency will introduce criminal liability for the circulation of money substitutes. About it reports REGNUM with reference to the Deputy Finance Minister Alexey Moiseev.

The maximum term of imprisonment for the circulation of money substitutes will be up to four years. Penalties apply to a group of persons who commits a crime by prior agreement.

“There will be a period of near four years, but only for collective schemes, which include a large number of objects and volumes”, — said Moiseev.

ForkLog previously reported that the Russian Central Bank and the Finance Ministry settled disputes regarding the regulation of exchange of cryptocurrency for Fiat currency and other assets. In addition, the Central Bank needs to specify the threshold for participation to qualified investors in ICO.