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Russia To Recognize Crypto As Property


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"and their owners will be able to count on legal protection in the event of any illegal actions, as well as to defend their property rights in court."

But per the article:

"However, the current status of the local crypto ecosystem remains in doubt because the government is planning to officially ban payments in crypto in January 2021. Russian authorities also want to introduce prison terms for failing to report annual crypto transactions of about $600,000."

So basically, "you can own it, we can tax it.... but you can't use it here to pay for anything."

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russia GIF

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      According to the document signed Thursday, both current civil servants and people about to assume a government position must disclose which digital assets they own, as well as in what quantity and from where they were purchased. The first reports must be provided from Jan. 1 through June 30, 2021.
      The reports must include all types of digital assets – including cryptocurrencies, digital securities and utility tokens – owned by a current or prospective civil servant, as well as their spouses and children. People seeking government roles will also have to make a crypto disclosure during the application process.
         




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