Crypto News

Russian Officials Prepared To Disclose Crypto Holdings By June 2021

  • Russia is the latest country to officially require its government officials to report their cryptocurrency holdings.
  • Russian officials must disclose data like the name of the digital asset, the date of acquisition and the total amount of held assets, as well as information about the issuer of an asset like the country of registration.
  • Declarations must include information about cryptocurrency and tokens belonging to officials and their family members. The disclosure process starts on Jan. 1, 2021.
  • Local crypto holders believe the new regulatory initiative will have a positive effect on the Russian crypto ecosystem.
  • The new regulatory initiative comes ahead of Russia imposing the DFA on Jan. 1, 2021. The law finally provides legal status to crypto in Russia, but will prohibit cryptos use as a payment instrument.
  • Read the full story here.

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Matt Borelli

Matt Borelli is a staff writer at CoinChapter, covering the daily developments in the cryptocurrency world. He is a Bitcoin enthusiast and proud Dogecoin holder. When not reporting on the latest cryptocurrency news, Matt can be found at the nearest baseball stadium.

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