RF officials are required to indicate the cryptocurrency in the income tax return

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 a corresponding statement during a speech at a meeting of state prosecutors general — members of the Shanghai Cooperation Organization (SCO).

The Prosecutor General emphasized that in July 2020 inRussia has adopted the federal law “On Digital Financial Assets.” It defines the principles of handling cryptocurrency in certain areas of legal relations, including for the purpose of combating corruption. Also, according to the law, digital assets are now recognized as property, from which corresponding obligations arise.

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

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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