The Russian government has introduced a draft bill proposing severe penalties for unlicensed cryptocurrency trading. The legislation, published on the State Duma's website, suggests criminal liability for organizing cryptocurrency circulation without registration or authorization from the Central Bank of Russia. Violators could face up to seven years of forced labor. Under the proposed law, ordinary offenders may incur fines up to $4,000 and imprisonment for up to four years. Operators of large cryptocurrency exchanges could be fined up to $13,000, with responsible individuals facing five to seven years in prison. The bill also mandates that most cryptocurrency transactions occur through commercial bank apps and imposes penalties on industrial crypto miners who fail to report their activities. If passed, the regulations would take effect on July 1, 2027.