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President Vladimir Putin ordered new system forcing Russians to disclose crypto holdings

Russian President Vladimir Putin ordered a new system that forces citizens to disclose their cryptocurrency holdings, this was reported by INC News.

President Vladimir Putin ordered new system forcing Russians to disclose crypto holdings

President Vladimir Putin ordered new system forcing Russians to disclose crypto holdings

After notifying the Ministry of Labor and the Central Bank, the president intends to collect all the facts through a joint report chaired by the Russian Ministry of Finance.

According to the decree “On the National Anti-Corruption Plan 2021-2024”, signed by the President, the Ministry of Finance, the Ministry of Labor and the Bank of Russia must prepare their proposals on the procedure for verifying information on the property of digital assets before November 15.

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  • In December 2020, the Vladimir Putin government had mandated that Russian officials should report on their cryptocurrency holdings. This affected both current officials and candidates for office, as well as their families.

    In January this year, that government went one step further: a letter from the Ministry of Labor and Social Protection of the Russian Federation reports that Russian government officials were required to dispose of their cryptocurrency holdings by April 1, 2021.

    In March, Putin called on local authorities to pay more attention to the illicit use of digital currencies.

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