OREANDA-NEWS. The Ministry of Finance of the Russian Federation has prepared amendments to the laws on the introduction of criminal punishment and imprisonment for failure to declare transactions with cryptocurrencies. The relevant draft laws were published on the federal portal of draft regulatory legal acts.

According to the press service of the ministry, this package of bills on digital currency was developed to "reduce the number of transactions related to money laundering, obtained by criminal means."

According to the new bill, citizens and organizations will be required to report transactions with digital currency to the tax service - to declare transactions with cryptocurrencies in the amount of 600 thousand rubles or more per year in equivalent. The amount for the declaration is calculated at the market price at the time of each transaction.

The bill also says about new sanctions for violation of the law. For concealment of transfer transactions, a fine of 50 thousand rubles is provided in the amount of 10% of the largest of the two amounts in ruble equivalent - the receipt or write-off of currency. In case of concealment of income or profit from crypto transactions, a penalty of 40% of the amount of unpaid tax on such transactions is proposed.

For a repeated violation, that is, for two or more reporting periods, a fine is issued from 100 thousand to 300 thousand rubles or in the amount of salary or other income from one to two years. Or in this case, forced labor for up to two years, or arrest for up to six months are provided.