Some Russian officials are being forced to sell their crypto by April 2021
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....
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Russian government officials must dispose of any digital asset holdings before April 1, a letter from the Ministry of Labor states.
The Russian Ministry of Labor has reportedly banned government officials from owning and using cryptocurrencies. Officials have also been ordered to dispose of any cryptocurrencies they own by April. Russia Prohibits Government Officials From Holding or Using Cryptocurrencies The Ministry of Labor and Social Protection of the Russian Federation has issued a letter in which it informed civil servants that they must get rid of any cryptocurrencies they are holding by April 1, Forklog reported Friday. “Officials are obliged to dispose of digital financial assets issued in information....
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....
Public officials in Russia will now be required to declare all the crypto assets they hold as income. The measures are with effect from Jan. 1, 2021, local media reported. Russia’s prosecutor general Igor Krasnov declared: “Starting next year, civil servants will be required to declare [virtual] currencies on an equal basis with other assets.” Krasnov said this on Oct. 20 while speaking at a corruption meeting involving 15 other prosecutor generals from the Shanghai Cooperation Organization (SCO) member states and elsewhere. The SCO is an eight-member political, economic....
Russian officials finally prepare to disclose their crypto. Russia is the latest country to officially require its government officials to report their cryptocurrency holdings.President Vladimir Putin has signed a decree obliging Russian officials to disclose their crypto investments by June 30, 2021, local news agency TASS reported on Dec. 10.Officially released on Thursday, the decree stipulates new measures related to Russia’s federal crypto law “On Digital and Financial Assets,” or DFA.The form requires officials to disclose data like the name of the digital asset, the date of....