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Learning & News => News related to Crypto => Topic started by: newshunter on January 24, 2021, 07:00:26 PM

Title: Some Russian officials are being forced to sell their crypto by April 2021
Post by: newshunter on January 24, 2021, 07:00:26 PM
Some Russian officials are being forced to sell their crypto by April 2021

Some Russian public officials have to disclose their crypto holdings, while other officials are obliged to hold zero crypto by April 1, according to a new law.


Source: Some Russian officials are being forced to sell their crypto by April 2021 (https://cointelegraph.com/news/some-russian-officials-are-being-forced-to-sell-their-crypto-by-april-2021)

Would appreciate your opinion about this
Title: Re: Some Russian officials are being forced to sell their crypto by April 2021
Post by: codehash on January 24, 2021, 11:23:35 PM
Russians consider the safety of their own people. For this reason, they are developing very drastic measures. I don't know if they should be that tough. But they aim to ensure the safety of their own people.
Title: Re: Some Russian officials are being forced to sell their crypto by April 2021
Post by: TomPluz on January 25, 2021, 05:10:23 AM
There is no figure verified that many government officials are actually holding a vast reserve of Bitcoin under their stash. I am assuming that most Bitcoin in Russia are owned by private citizens and maybe even businesses. Russia is a fascinating country and if ever it can open its border to cryptocurrency business then this can be a big market but alas the government is entertaining wild ideas on Bitcoin and the whole of cryptocurrency, so they are coming up with measures to restrict crypto-related activities. They should have been running after scammers and hackers and allowed legal crypto business to flourish.
Title: Re: Some Russian officials are being forced to sell their crypto by April 2021
Post by: Proton on January 25, 2021, 09:24:52 PM
Quote from: codehash on January 24, 2021, 11:23:35 PM
Russians consider the safety of their own people. For this reason, they are developing very drastic measures. I don't know if they should be that tough. But they aim to ensure the safety of their own people.
I do not think that the laws and by-laws on the regulation of cryptocurrency adopted in Russia are aimed at increasing security for the people. The government seeks to fully control the financial activities of its citizens. The obligation not to store cryptocurrency for some categories of officials after April 1 is unlikely to help in the fight against corruption, which is headed by the Russian government itself.