Russian Public Officials Must Now Declare Their Crypto Holdings as Income
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....
Related News
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....
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....
The Russian parliament has adopted a new law obliging persons running for office to present information about their digital asset holdings. The legislation will amend a number of acts and apply to presidential and parliamentary candidates as well as government officials. Russian Politicians to Declare Their Cryptocurrency Funds Before Elections Members of the State Duma, the lower house of Russian parliament, have approved a law under which participants in elections will have to declare their crypto. It requires running candidates to share data about their spending on the acquisition of....
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 approved amendments to his own decree requiring Russian citizens running for office to declare their property abroad. The updated regulation lists cryptocurrencies among the assets that candidates should report to the state. President Putin Requires Russian Officials to Reveal Crypto Asset Purchases in Foreign Countries Candidates for government offices in Russia are now expected to provide authorities with details about the crypto funds they have acquired in other jurisdictions. A decree recently signed by Vladimir Putin adds the requirement to an earlier....