Cryptocurrency holders will be able to count …


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Cryptocurrency holders will be able to count ...

Cryptocurrency owners can count on legal protection – Mishustin

  • The Prime Minister of the Russian Federation assured of the legal protection of cryptocurrency owners

  • The authorities will follow the “civilized channel” of regulating digital assets, Mishustin said

  • Meanwhile, the Ministry of Finance of the Russian Federation proposes to imprison for three years for concealing operations totaling from 45 million rubles

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Russian Prime Minister Mikhail Mishustin announced the government’s “civilized” approach to developing regulatory measures in relation to cryptocurrencies

Cryptocurrency holders will be able to count ...

The Russian government intends to develop the domestic cryptocurrency market in a “civilized way”. Russian Prime Minister Mikhail Mishustin said this during a government meeting.

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Mishustin assured that the country’s authorities are working on legislative acts in the field of digital asset regulation so that cryptocurrency owners can defend their rights and interests in court.

“… the government plans to direct the development of this [cryptocurrency] market in a civilized direction, so that the owners of such assets can protect their rights and interests, and the creation of shadow schemes would be difficult,” the Prime Minister said.

In particular, Mishustin announced the introduction of “a number of changes to the tax code.” According to the Prime Minister, cryptocurrencies will receive the status of property, and their holders will be able to count on legal protection “in the event of any illegal actions.”.

Cryptocurrency holders will be able to count ...

Course towards acceptance

Mishustin has long been a supporter of digitalization of all aspects of government processes. In January 2020, speaking at the forum “Digital Future of the Global Economy” in Kazakhstan, Mishustin stated the need to rethink the role of the state in digital transformation. Then the Prime Minister of the Russian Federation assured that the country will go by embedding the lives of people and companies into the digital ecosystem..

Mishustin again recalled the need for full digitalization in October, when he said at a meeting of the Valdai Discussion Club that the state should keep up with global trends and become a digital platform “in the good sense of the word”.

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The course towards digitalization continues in the Federal Tax Service of the Russian Federation even after Mishustin leaves the post of head of the tax service. The editorial staff of BeInCrypto reported that the Federal Tax Service is discussing with the Ministry of Finance, the government and banks the possibility of using blockchain technology in order to eliminate risks associated with inaccurate or irrelevant information about the client..

However, despite Mishustin’s superficially loyal attitude to the development of the domestic cryptocurrency market, some ministries continue their policy of pressure on the digital finance industry..

We will remind, earlier the Ministry of Finance proposed to fine with forced labor for a period of two years or six months in prison if the amount of undeclared crypto operations exceeds 15 million rubles in three years. An even harsher punishment with a term of imprisonment of up to three years awaits those who, twice in three years, have not reported to the tax office about transactions with cryptocurrencies for a total amount of 45 million rubles..

Cryptocurrency holders will be able to count ...

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