Russian President Vladimir Putin signed a decree according to which officials and candidates for the relevantpositions are required to provide information about their digital financial assets.
According to the document, these persons must "provide notification of digital financial assets belonging to them, their spouses and minor children, digital rights, including simultaneously digital financial assets and other digital rights, utilitarian digital rights and digital currency (if available)."The data must be transmitted within January 1 to June 30, 2021.
In addition, Putin recommended to be guidedby decree to federal government agencies, the Bank of Russia and state corporations "in the exercise of powers relating to the determination of the procedure for submitting information on income and property."
The decree has an application with a form that officials must fill out when providing information about their cryptocurrency assets.It must include the name of the digital asset, the date of the acquisition, the total amount and information about the operator of the information system in which such assets are issued, including the country of registration.
In October, Russia's Prosecutor General Igor Krasnov announced that from 2021, officials will have to indicate the presence of cryptocurrency in their income tax returns.
On December 1, the government introduced a bill to the State Duma taxing cryptocurrenciesFor offences, administrative and criminal liability is proposed.
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Vladimir Putin signed a document “on digital financial assets”
Russian officials will have to declare their crypto assets
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