Illegal Transactions on Currency Exchange

The Committee on Legislation of the Supreme Council reviewed the government initiatives aimed at regulating liability measures, its strengthening for violations in the field of foreign exchange transactions. Executive authority proposed to amend the Criminal Code and the Code of Administrative Offences.

According to initiators of the law-in-draft, the amount of illegal currency transactions for the commission of which provides criminal penalties, should be reduced from 30,000 to 5,000 MW, and for repeated violation within one year - to criminalize. According to the authors, this will help to combat these kinds of violations of the law and to prevent it more effectively.

Discussing the issue, Parliamentarians expressed concern that the decline in the currency of the transaction amount threshold for criminal responsibility would affect citizens who are forced to buy Russian rubles, lei, dollars for their own use, for example, to send children abroad to students. According to legislators, increased responsibility in this area was extremely important in the past year, when the artificially created currency crisis led to the fact most of foreign exchange transactions became side deals. It's not the fault of the people - they were hostages of circumstances.

Legislators noted that consolidated balanced policy on regulation of the situation on the currency market results is visible today. Its consequence has been the stabilization of the national currency. Deputies agreed that the fight against violators of the law in this area is necessary, but we need a comprehensive national approach. It is a more economic and not legal level. It is important to provide citizens with an opportunity to buy / sell the currency by legal means; there will be fewer violations then.

The Committee rejected the initiative to amend the provisions of the Criminal Code as a result of its consideration of the agenda. At the same time we agree with the proposals relating to the administrative responsibility. It is proposed that the measures in relation to citizens who acquire anything for foreign banknotes. Those bear responsibility who illegally sells for currency.

Deputies recommended the law-in-draft "On the Procedure for use Flag of the Russian Federation in the territory of Pridnestrovie" for adoption in the first reading. It corresponds to our strategic course for the republic's independence and its free association with Russia.