Bitcoins to Be Declared by Russian Officials

Starting in 2021, Russian officials will have to declare savings and income in cryptocurrency. This is reported by TASS, citing Prosecutor General Igor Krasnov.

The need to report the existence of digital assets is explained by their legally enshrined status, under which they are recognised as property.

“Civil servants, starting from next year, must declare cryptocurrencies on a par with other assets,” Krasnov noted.

The law ‘On Digital Financial Assets’, which also regulates the turnover of cryptocurrencies, will come into force on 1 January 2021.

In September 2020, the governor of the Sverdlovsk region ordered local civil servants and their wives to report holdings in cryptocurrency and tokens.

Later in the same month, the Russian Finance Ministry proposed to introduce criminal liability for failing to declare digital assets.

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