Russia Prohibits Government Officials From Owning Crypto, Must Dump Holdings ...
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....
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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....
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....
A Ukranian government data report indicates that public officials there have declared owning 46,351 BTC, with several whales among them.
The State Duma of Russia, the lower house of parliament, has passed a law permitting law enforcement authorities to seek confiscation of illegally obtained funds from government officials, including cryptocurrency. The state may attempt to seize the assets through court if they exceed the officials’ income.
New Law Allows Russia to Prosecute Officials With Illegal Crypto Holdings
Government officials who possess financial assets — including digital coins — exceeding their declared income from the last three years risk losing them to the state, according to a....
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....