Putin Orders Russia’s Public Officials to Report Crypto Holdings

Putin Orders Russia’s Public Officials to Report Crypto Holdings

Russian civil servants must start reporting their crypto assets as the country's first crypto law comes into force in January.


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Russian officials must now declare crypto holdings

The move reverses a 2018 decision that officials did not have to declare crypto holdings. Russia's public officials will be mandated to declare all private crypto assets holdings from New Year’s Day, 2021.The requirements were announced on Oct. 20 by the office of Russian prosecutor general, Igor Krasnov, following a meeting with 15 fellow prosecutor generals representing member states of the Shanghai Cooperation Organization (SCO).“Starting next year, civil servants will be required to declare [virtual] currencies on an equal basis with other assets,” Krasnov said.In 2018, Russia’s labor....

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....

Russian officials must disclose their crypto holdings by June 2021

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....

Report Claims Ukrainian Officials Hold Over $2.6 Billion in Bitcoin

The latest declarations from Ukrainian public officials revealed a billion-dollar amount of money they allegedly own in bitcoin. An online incentive gathered data from 791,872 state employees and 652 respondents disclosed their crypto holdings. The Biggest Crypto Holder in the Report Has 18,000 BTC According to the Opendatabot site, officials currently hold a total of 46,351 BTC, which is worth over 75 billion hryvnias ($2.66 billion) as of press time. The declaration’s campaign ended on March 31, 2021. But bitcoin is not the only cryptocurrency found among the collective filings of....

Russia's money laundering watchdog monitoring crypto to ruble transactions

Rosfinmonitoring has informed the Russian parliament that it is paying close attention to transactions involving the conversion of crypto to rubles. Russia’s Federal Financial Monitoring Service, or Rosfinmonitoring — the country’s Anti-Money Laundering body — is policing crypto to fiat transactions.The federal executive body responsible for AML oversight made this known while addressing the members of parliament on Tuesday, according to a report by Russian news agency Regnum.In a meeting with members of the State Duma Committee on the Financial Market, Herman Neglyad, deputy chief of....