{"id":94884,"date":"2020-10-22T06:36:58","date_gmt":"2020-10-22T03:36:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/russian-officials-must-now-declare-crypto-holdings\/"},"modified":"2020-10-22T06:36:58","modified_gmt":"2020-10-22T03:36:58","slug":"russian-officials-must-now-declare-crypto-holdings","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/russian-officials-must-now-declare-crypto-holdings\/","title":{"rendered":"# Russian officials must now declare crypto holdings"},"content":{"rendered":"

“# Russian officials must now declare crypto holdings <\/strong>”
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Russia’s public officials will be mandated to declare all private crypto assets holdings from New Year\u2019s Day, 2021.<\/p>\n

The requirements were announced<\/a> on Oct. 20 by the office of Russian prosecutor general<\/a>, Igor Krasnov, following a meeting with 15 fellow prosecutor generals representing member states of the Shanghai Cooperation Organization (SCO).<\/p>\n

\u201cStarting next year, civil servants will be required to declare [virtual] currencies on an equal basis with other assets,\u201d Krasnov said<\/a>.<\/p>\n

In 2018, Russia\u2019s labor ministry announced that public officials would not need to declare virtual asset holdings in their tax reports due to the unregulated status of crypto. As such, concerns<\/a> have lingered that crypto assets may be the financial instrument of choice for bribery and corruptions<\/p>\n

Over the past three years, the Prosecutor General\u2019s Office claims to have confiscated more than $440 million worth of undisclosed, non-crypto assets from public officials.<\/p>\n

The new requirements follow new laws signed by President Vladimir Putin in July that will classify crypto assets as akin to physical commodities from 2021 \u2014 recognizing virtual currencies in the country for the first time.<\/p>\n

While the laws do not recognize cryptocurrencies as legal tender, they will legitimize crypto-related activities across Russia.<\/p>\n

Alongside SCO member states Russia, India, Kazakhstan, China, Kyrgyzstan, Pakistan, Uzbekistan, and Tajikistan, the prosecutor generals of Afghanistan, Belarus, Mongolia, Iran, Azerbaijan, Cambodia, and Armenia \u2014 which are non-member partners and observer states to the SCO \u2014 were also present at the meeting. The gathering centered on the topic of combating corruption.<\/p>\n

The Russian announcement on crypto reporting suggests similar laws may soon be enacted across the Eurasian region. <\/p>\n

In August, Russia\u2019s Federal Financial Monitoring Service claimed<\/a> it had developed a way to \u201cpartially\u201d de-anonymize transactions using Bitcoin (BTC), Ethereum (ETH) and the popular privacy coin Monero (XMR). The agency also noted that several \u201coverseas countries have also shown interest in the system,\u201d suggesting it is looking to sell the system to allied nations.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# Russian officials must now declare crypto holdings ” Russia’s public officials will be mandated to declare all private crypto assets holdings from New Year\u2019s Day, 2021. The requirements were announced on Oct. 20 by the office of Russian prosecutor general, Igor Krasnov, following a meeting with 15 fellow prosecutor generals representing member states of…<\/p>\n","protected":false},"author":1,"featured_media":94885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.eu-central-1.amazonaws.com\/s3.cointelegraph.com\/uploads\/2020-10\/117dcc76-b68b-4c44-ac2a-d25cf6d57d32.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[55229,70934,4975],"class_list":["post-94884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-law","tag-regulation","tag-russia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/94884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=94884"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/94884\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/94885"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=94884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=94884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=94884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}