Russia will strengthen control of cryptocurrency turnover

17-08-2021

Vladimir Putin on 16.08.21 announced the approval of the national anti-corruption plan for 4 years. Until 15.11.2021, government agencies are required to submit a proposal to verify the data submitted by officials on the ownership of cryptocurrencies. 

The Russian president’s decision indicates the government’s willingness to regulate the circulation of crypto-assets. Russian legislation defines digital currencies as assets that are subject to declaration. 

Some experts suggest that the innovations on the regulation of bitcoin and other cryptocurrencies will affect not only officials, but also private investors. Some experts believe that the new decree applies mainly to owners of cryptocurrencies associated with the government administration. At the same time, experts see no threat to ordinary traders. 

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