• bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds
  • INVESTMENTS
    • Crypto General
    • Masternodes
    • Mining Projects
    • NFTS Investments
    • Invest In ICO
    • Exchanges
    • Staking Yeild Farming
  • WORLD
  • USA
  • CANADA
  • JAPAN
  • UK
  • UAE
  • INDIA
  • MORE
    • BRAZIL
    • AUSTRALIA
    • EL SALVADOR
    • CENTRAL AMERCIA
    • SOUTH AMERICA
    • AFRICA
    • EUROPE
    • ASIA
    • OCEANIA
    • ICO
  • Login
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE
HealthNews
No Result
View All Result
Home USA

Financial Market Committee Chair Aksakov Joins Calls for Identification of Russian Crypto Owners – Regulation Bitcoin News

CB4U by CB4U
January 19, 2022
in USA
0
Financial Market Committee Chair Aksakov Joins Calls for Identification of Russian Crypto Owners – Regulation Bitcoin News
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Anatoly Aksakov, head of the Financial Market Committee at the Russian parliament, has reiterated a warning for cryptocurrency investors and insisted that Russians owning coins should declare their digital assets. The parliamentarian also urged for the comprehensive regulation of crypto mining and taxation.

Aksakov Warns Russian Crypto Investors They Can Lose Everything

Russians have put 5 trillion rubles (around $67 billion) into crypto and some of them may lose everything as cryptocurrencies are not backed by anything, Anatoly Aksakov, a deputy with a key role in the regulation of Russia’s crypto space, has recently stated. Many of these people are non-qualified investors and as such, pyramid schemes are likely to occur, added Aksakov who heads the Financial Market Committee at the State Duma, the lower house of parliament.

Repeating previously issued warnings in an interview with the parliamentary Duma TV channel, the Russian lawmaker emphasized that there is no stability in the digital currency market. Crypto prices can quickly move by 20 – 30% in one direction or another, Aksakov noted and elaborated:

Therefore, it is important to regulate the market, to protect, first of all, our citizens, to establish taxation and certain rights for cryptocurrency owners. However, they must be identified.

The statement comes after a similar call was recently issued by the head of the Investigative Committee of the Russian Federation, Alexander Bastrykin. Last week, Bastrykin, who answers directly to President Putin, said cryptocurrency should not remain anonymous, adding that mandatory identification of all crypto users should be introduced in Russia.

Anatoly Aksakov is convinced that crypto holdings must be reported to the state in order to prevent their use to finance terrorism, drug trafficking, and the acquisition of weapons in the first place. Among other reasons, he mentioned taxation — Russians are obliged to pay taxes on their crypto profits even under the current legislation but a dedicated law on crypto taxation is yet to be adopted by the Duma.

The high-ranking member of the house also talked about the need to regulate cryptocurrency mining, which has been spreading in Russia both as a profitable business and as an alternative source of income for private citizens.

Aksakov remarked that if Russian authorities decide to legalize mining, it should be registered as an economic activity and taxed. He further insisted that differentiated tariffs for the energy consumed by mining companies should be introduced in accordance with the cross-subsidization scheme applied in Russia. This would lead to higher electricity rates for miners.

Last month, the leader of Aksakov’s ‘A Just Russia — For Truth’ social-democratic party, Sergei Mironov, urged Bank of Russia to legalize the cryptocurrency market and accelerate the introduction of the digital ruble. In his view, the regulator’s tough stance on the matter hinders the development of crypto technology and makes it dependent on Western payment systems.

Various aspects related to cryptocurrencies, including mining, trading and taxation, remain unregulated in Russia even after the law “On Digital Financial Assets” went into force in January 2021. A working group set up at the Duma is now preparing regulatory proposals to deal with these issues.

Tags in this story
Aksakov, Anatoly Aksakov, committee, Crypto, crypto owners, crypto users, Cryptocurrencies, Cryptocurrency, financial market, Holders, Identification, Investors, Laws, Legislation, owners, Regulation, Regulations, Russia, russian, Taxation, users

Do you expect Russia to introduce a legal requirement for identification of cryptocurrency users? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Advertisement Banner
Previous Post

Luxury Car brand Lamborghini joins the NFT Bandwagon

Next Post

Monetary Authority of Singapore (MAS) bans crypto ads in public areas

CB4U

CB4U

Next Post
Monetary Authority of Singapore (MAS) bans crypto ads in public areas

Monetary Authority of Singapore (MAS) bans crypto ads in public areas

Discussion about this post

RECOMMENDED

🔥How Much I Made in 1 Month Trading Crypto Part Time! 🤯 #Shorts

🔥How Much I Made in 1 Month Trading Crypto Part Time! 🤯 #Shorts

2 weeks ago
El Salvador President Removes Taxation On Tech Innovations

El Salvador President Removes Taxation On Tech Innovations

4 weeks ago

DON'T MISS

US court says IRS has legal authority to access Coinbase users’ trading data

US court says IRS has legal authority to access Coinbase users’ trading data

May 31, 2023
Binance’s CZ opens up on the exchange’s Canada exit; hopes to return one day

Binance’s CZ opens up on the exchange’s Canada exit; hopes to return one day

May 31, 2023
Pepe Coin CRASH: Should you BUY other Memecoins?

Pepe Coin CRASH: Should you BUY other Memecoins?

May 31, 2023
XDC token trending after SBI VC Trade partnership in Japan

XDC token trending after SBI VC Trade partnership in Japan

May 31, 2023
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds

The Cryptocurrency Bazaar 4U was founded in 2020 for providing the most trusted information for the Crypto enthusiasts covering a broad range of news about blockchain technology, cryptocurrency assets, emerging fintech trends in the decentralized space, and other related wide array of information surrounding this emerging technology.Our team provides the most up-to-date and accurate news from different sources in this space comprising of unbiased news, in-depth analytics, detailed cryptocurrency price charts, and insightful opinion pieces is the basis of our editorial content.

POPULAR POSTS

US court says IRS has legal authority to access Coinbase users’ trading data

US court says IRS has legal authority to access Coinbase users’ trading data

May 31, 2023
Binance’s CZ opens up on the exchange’s Canada exit; hopes to return one day

Binance’s CZ opens up on the exchange’s Canada exit; hopes to return one day

May 31, 2023
Pepe Coin CRASH: Should you BUY other Memecoins?

Pepe Coin CRASH: Should you BUY other Memecoins?

May 31, 2023

Categories

  • AFRICA
  • ALTCOIN
  • ASIA
  • AUSTRALIA
  • BITCOIN
  • BLOCKCHAIN
  • BRAZIL
  • CANADA
  • CENTRAL AMERCIA
  • CRYPTO GENERAL
  • EL SALVADOR
  • ETHEREUM
  • EUROPE
  • EXCHANGES
  • ICO
  • INDIA
  • INVERST IN ICO
  • INVESTMENTS
  • JAPAN
  • MASTERNODES
  • MINING
  • MINING PROJECTS
  • NFTS
  • NFTS INVESTMENTS
  • OCEANIA
  • SINGAPORE
  • SOUTH AMERICA
  • STAKING & YEILD FARMING
  • UAE
  • UK
  • Uncategorized
  • USA
  • VIDEOS
  • WORLD
  • CONTACT US
  • DISCLAIMER
  • PRIVACY POLICY
  • ABOUT US
  • CLASSIFIED
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

No Result
View All Result
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H