More Crypto Regulation Coming in Russia and Beyond Warns Key Lawmaker

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Russian politicians have issued another grim-sounding warning about forthcoming crypto regulations, hinting that 2021 may have some less-than-welcome surprises in store for the nation’s crypto community – as well as crypto enthusiasts based overseas. Per a report from radio station Govorit Moskva, Anatoly Aksakov, the head of the State Duma Committee on Financial Markets and the chief deal-broker of Russia’s crypto legislation, stated,He added that a bill proposing stricter crypto regulations had reached the committee stage in sessions late last year, a sign that politicians are prepared to usher in proposals some crypto players in Russia have called “draconian.”Aksakov underlined that all citizens’ “digital savings” should be taxed, warning that “criminal penalties” would be enforced on non-compliant individuals. The same media outlet also reported that a prominent Russian economist painted a similarly bleak picture, claiming that more BTC growth could be on the cards – at a cost. The radio station interviewed Mikhail L. Khazin, the author of the book Sunset of the Dollar Empire and the End of the Pax Americana, who opined,Khazin also predicted regulation was all but inevitable.“Any attempt to transact using bitcoin will be viewed by finance ministry officials and the tax authorities as tax evasion. I think that legislation will be adopted soon requiring bitcoin owners to report all of their transactions to the tax authorities,” he concluded.___Learn more:Experts Divided on New Russian Crypto RegulationsRegulatory Kaleidoscope Challenges Crypto Industry - Crypto.com CCOCrypto Regulation in 2021: The Piecemeal Approach & New WindsNew Regulatory Lemons Await Somewhere Between DeFi & CeFiPoliticians, Industry, Crypto Fans Unite to Reject Treasury Wallet PlansStablecoins Get Another Headache In US, Ethereum Camp Feels Attacked TooDeFi Industry Ponders Strategy as Regulators Begin to Circle


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Article Link: https://cryptonews.com/news/more-crypto-regulation-coming-in-russia-and-beyond-warns-key-8819.htm


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