Russian officers have to declare they hold crypto or not

President Putin ordered the officers in the country, the government employed and civilians too, to report their crypto-funds. The purchasing method and time also matter. The deadline is June 2021, after that, there will be a penalty, almost sure. A law-pack, coming live next year, will be defining crypto assets as property, not currency.

Russia’s behavior toward the crypto-industry is two-sided. They want to ban it and keep the citizens away from them. On the other hand, mining, as a business operation is welcomed, possibly due to the jobs and tax revenues. Lately, there are opened more mining-facility in the industrial regions of the country, to take advantage of the unused capacities of power plants.