Fun

Putin Obliges Election Candidates to Report Crypto Holdings Outside Russia

News Feed - 2022-05-11 09:05:36

Putin Obliges Election Candidates to Report Crypto Holdings Outside Russia


President Vladimir Putin has approved amendments to his own decree requiring Russian citizens running for office to declare their property abroad. The updated regulation lists cryptocurrencies among the assets that candidates should report to the state. President Putin Requires Russian Officials to Reveal Crypto Asset Purchases in Foreign Countries


Candidates for government offices in Russia are now expected to provide authorities with details about the crypto funds they have acquired in other jurisdictions. A decree recently signed by Vladimir Putin adds the requirement to an earlier presidential decree on the verification of filed statements on property and property-related liabilities of Russian officials abroad.


The amendments, which entered into force immediately after the signing of the new decree on May 9, concern not only those who run in elections on the federal and regional level but also their close relatives. From now on, their families will have to account for all of their crypto investments as well.


The new provisions refer to any spending for the purchase of digital financial assets, a term encompassing cryptocurrencies under current Russian law, and digital currency. The latter definition will be introduced with a new law drafted by the Ministry of Finance.


The respective Russian authorities will verify the submitted information. To do that, they will demand documents indicating the value of the purchased crypto assets. Affected Russian citizens and their relatives will have to also share the details of each transaction, including the date and other identifiers.


Officials in Moscow have been working to comprehensively regulate the country’s crypto space as many aspects remained outside the scope of the law “On Digital Financial Assets” which went into force in January, 2021. These include the legal status of cryptocurrencies like bitcoin and related activities such as trading and mining.


In late March, the Russian parliament adopted a bill obliging persons running for office to present information about their digital asset holdings inside Russia. The legislation amends various acts and concerns presidential and parliamentary candidates as well as other government officials. Putin singed it into law in April.


The latest presidential decree targets candidates in elections for state and municipal authorities. It also covers representatives of political parties who have been nominated for the highest posts in any of the constituent entities of the Russian Federation, according to an announcement published by Russia’s portal for legal information. Tags in this story candidates, Coins, Crypto, crypto assets, Crypto Purchases, Cryptocurrencies, Cryptocurrency, declarations, Decree, Digital Assets, Digital Currency, Disclosure, Elections, obligation, President, Putin, Russia, russian, Tokens, Vladimir Putin


What do you think about Putin’s decision to oblige election candidates in Russia to disclose their crypto purchases abroad? Tell us in the comments section below. Lubomir Tassev


Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration. UK Outlines Plans to Support Crypto Adoption, Create More Powers to Seize and Recover Digital Assets REGULATION | 21 hours ago US Lawmakers Push for Urgent Stablecoin Regulation — Fed Warns of Stablecoin Runs, Janet Yellen Cites UST Fiasco REGULATION | 23 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleLUNA, UST Move Closer to Zero, as Do Kwon Asks Holders to ‘Stay Strong’ Next articleBitcoin, Ethereum Technical Analysis: ETH Bounces Back, up 2%, While BTC Climbs Above $30,000 Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards


Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin

News Feed

Crypto execs on DeFi domain hacks: Don’t interact with crypto for now
Ezra Reguerra46 minutes agoCrypto execs on DeFi domain hacks: Don’t interact with crypto for nowCoinGecko founder Bobby Ong explained that after Google sold its domain business to Squarespace, two-factor authentication
New York Attorney General Sues Celsius Co-Founder Alex Mashinsky for Crypto Fraud
New York Attorney General Sues Celsius Co-Founder Alex Mashinsky for Crypto Fraud On Jan. 5, 2023, the state of New York and attorney general Letitia James filed a lawsuit against
Here’s What Happens If The XRP Price Closes Out This Week Above $2.25
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Geeking out With RPGs and NFTs: AdaQuest to Hold a Public Sale on KICK․IO
Geeking out With RPGs and NFTs: AdaQuest to Hold a Public Sale on KICK․IO press release PRESS RELEASE. It is surprising how many NFT enthusiasts are also into role-playing games.
Former CFTC Chair Chris Giancarlo joins Paxos board
Turner Wright8 hours agoFormer CFTC Chair Chris Giancarlo joins Paxos boardFormer CFTC Chair J. Christopher Giancarlo founded the Digital Dollar Project and currently works as an advisory board member for the Chamber of
Organizations File Lawsuit Against New York Town to Prevent Bitcoin Mining Facility Expansion
Organizations File Lawsuit Against New York Town to Prevent Bitcoin Mining Facility Expansion Organizations led by an environmental organization filed a lawsuit
Prashant Jha12 hours agoCircle admitted by judge as amicus curiae in SEC vs. Binance lawsuit: ReportThe orders to pass the pending motion come just a day before the key hearing between Binance and the SEC on Oct. 12.2948
Ripple partners with National Bank of Georgia to digitize economy
Helen Partz12 hours agoRipple partners with National Bank of Georgia to digitize economyRipple continues to deepen its CBDC collaboration with the Republic of Georgia by exploring ways to digitize the local economy.5175
Tom Mitchelhill3 hours agoHow long could Sam Bankman-Fried go to jail for? Crypto lawyers weigh in“I think he’ll get the maximum sentence” — one lawyer predicts the former FTX CEO could look at life behind bars i
Bitcoin Price Crash To $92,000 Or New ATHs? Analyst Explains The 2 Options
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Chainlink Holds Strong At $15.29 Support – Is A New Breakout Imminent?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Court allows most SEC claims to proceed in Binance suit
Brayden Lindrea5 hours agoCourt allows most SEC claims to proceed in Binance suitJudge Amy Berman Jackson however dismissed the SEC’s claim that BNB is traded illegally on secondary markets, citing the Ripple decision.