Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs
Cryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian Government to Collect Millions of Dollars in Taxes After Legalizing Crypto Mining While the law “On Digital Financial Assets” — which entered into force in January this year — regulates certain crypto-related activities such as “digital currency issuance,” it....
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Police in the southern Russian city of Astrakhan have detained a man accused of defrauding people who wanted to purchase crypto miners. Law enforcement officials say the suspect made millions of rubles through fictitious sales of mining devices to Russian citizens and foreigners. Investigators Claim Russian Made Money Selling Nonexistent Crypto Mining Rigs A resident of Russian Republic of Tatarstan’s capital city, Kazan, has been apprehended in Astrakhan, Southern Russia, for allegedly defrauding 10 local residents and a number of foreigners who tried to buy mining equipment from....
“No one is looking to allow Russian people to earn money with crypto operations,” the official claimed. Despite Russian officials' increased interest in cryptocurrencies like Bitcoin (BTC), Russia’s internet ombudsman expressed confidence that local crypto regulations will remain largely prohibitive.Dmitry Marinichev, Russia’s ombudsman for the protection of entrepreneurs' rights under Russian President Vladimir Putin, discussed Russia’s approach to cryptocurrency regulations at a panel of a major local industry event, Blockchain Life 2021, on Wednesday.Russia will continue to take a....
Some Russian public officials have to disclose their crypto holdings, while other officials are obliged to hold zero crypto by April 1, according to a new law. Russia adopted its cryptocurrency law in January, but this legislation does not provide a direct answer to some questions, including how local officials should deal with their crypto holdings. There are at least two other legal initiatives requiring Russian public officials to declare or even get rid of their cryptocurrency holdings entirely in 2021.On Dec. 10, 2020, Russian President Vladimir Putin signed a decree obliging some....
Russian government officials must dispose of any digital asset holdings before April 1, a letter from the Ministry of Labor states.
President Vladimir Putin has tasked several ministries and the central bank to prepare to verify information provided by government employees about their digital asset holdings. The order comes as part of a new plan to combat corruption which was recently approved by the Russian leader. Authorities to Inspect Crypto Disclosures Filed by Russian Officials as Putin Approves Anti-Corruption Plan Russian President Vladimir Putin has signed a decree approving the country’s National Anti-Corruption Plan 2021-2024. As part of the new strategy, the Russian head of state has instructed the....