[Blockchain Today reporter Jeong Seung-won] According to the new law, some Russian government officials cannot hold cryptocurrency, and it is known that if they have cryptocurrency, they must clean up by April and January.
According to Cointelegraph reports, Russia has been implementing the Digital Financial Assets Act (DFA), a cryptocurrency-related corporation since the beginning of this month. There are regulations that certain officials in Russia should not hold any cryptocurrency under anti-corruption measures, and government officials must dispose of all their cryptocurrency holdings in 2021. However, it did not provide direct answers to several questions, such as how government officials should handle their cryptocurrency.
In addition, with the signature of President Vladimir Putin on the 10th of last month, some officials are required to disclose their cryptocurrency details by June 30th. This decision is in accordance with Russia’s’digital financial asset-related bill’ that went into effect on the 1st. The statute stipulated that Russian officials or candidates for elections should disclose their digital assets as well as the digital assets of their spouses and children.
It is likely that the Russian government will introduce new cryptocurrency-related regulations for public officials, but it is not clear how long it will adhere to the new regulations from a technical point of view. Artem Grigorievn, president of RACB, said, “There is no law on the circulation of cryptocurrency. We will have our own vision for these regulations and will show them in reality.
Maria Stankevich, the Russian Blockchain Technology and Cryptocurrency Economy Commission, also commented on the technical and legal realities of the regulations. “The ban on the ownership of digital currency by some groups is a logical attempt to ban corruption in reality and is a clear sign that it will show the power of the government when necessary. The important question is the presence or absence of supervisory methods and the presence or absence of relevant laws and procedures.”
