Russian officials do not have to declare their crypto

Russian officials do not have to declare their crypto

Russia continues its ever-evolving relationship with cryptocurrencies with its latest move. The country has previously been very vocal about their plans to control and regulate the digital currency industry.

Russian President Vladmir Putin has declared July this year as the deadline for a definitive framework for the industry, and his government has even submitted a draft law detailing processes for issuing, taxing, buying and trading virtual currencies.

The country’s Ministry of Labor has released their income, expenses and property declaration guidelines for government employees, and its got an interesting little side note. The framework states that state workers do not have to declare any “virtual currencies” they may have attained.

Government employees already do not have to declare “goods and services in their natural forms”, and now cryptocurrencies form part of that.

A reason for this, according to the ministry’s representative is due to the lack of clear legislation: