March 28, 2024

Russian officials will have to declare their crypto assets

Starting next year, Russian officials will be required to indicate in their income declarations information aboutcryptocurrency assets. TASS writes about this with reference to the Prosecutor General of Russia Igor Krasnov.

He made the corresponding statement during a speech at a meeting of the prosecutors general of the Shanghai Cooperation Organization (SCO) member states.

The Prosecutor General stressed that in July 2020, inRussia adopted a federal law on digital financial assets. It defines the principles of handling cryptocurrency in some areas of legal relations, including with the aim of combating corruption. Also, according to the law, digital assets are now recognized as property, from which the corresponding obligations follow.

"Civil servants, starting next year, are required to declare such currencies on an equal basis with other assets," Krasnov said.

Earlier, banks used the consolidation of the legal status of digital assets in Russia to issue the first loan secured by cryptocurrency tokens.

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