Russia will target its citizens who are proven to help crypto criminals to launder money.
In Moscow, there are indeed quite a few cases of crypto crimes such as scams that have harmed many victims, both at home and abroad.
People who help fraudsters to launder money, also known as droppers, will begin to be targeted by Russia and be jailed.
Heavy Penalties for People Who Help with Money Laundering
According to a Bitcoin News report, the Ministry of Internal Affairs of the Russian Federation (MVF) and other security agencies want to introduce rules that can provide tough penalties for citizens who help crypto fraudsters.
Law enforcement officials in Moscow are known to have received numerous requests to penalize droppers, who knowingly or unknowingly have helped launch the scams.
For your information, droppers usually help fraudsters to launder illegal crypto assets, which are usually accepted into their bank accounts or crypto wallets.
In essence, droppers will get some material benefits for helping crypto criminals cash out their stolen assets, so Russia intends to punish droppers severely.
“The authorities want to introduce criminal liability for the act [of being a dropper]. If that happens, the droppers could be subject to [punishment] between four and seven years in prison,” said Roman Bubnov, Deputy Head of Department and Procedural Control at MVD's Investigation Department.
In addition, the Ministry of Home Affairs also proposed dropper as a separate violation, but still with many consequences.
Indeed, Russia currently does not have a comprehensive regulation that regulates cryptocurrencies.
But a new crypto-related bill due to be passed this year, which includes penalties for the unauthorized issuance of digital financial assets, has been submitted to the State Duma, Russia's lower house of parliament.
On the other hand, the digital ruble appears to be the only “digital money” to be used in Russia, after the central bank opposed the use of private stablecoins.
It is feared that this will disrupt the position of the ruble domestically, as well as carry the risk of a value that is “not completely stable.”
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