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The new law would require candidates to declare a crypto in Russian elections

Russian State Duma yes approved a new bill at first reading that would require electoral candidates to disclose their cryptocurrencies, expenditures, and purchases.

The bill also requires election candidates to indicate the source of income for cryptocurrency purchases, and requires cryptographic statements not only from actual candidates, but also from their spouses and minor children over the past three years.

The bill, introduced in March 2021, contains a set of changes to existing Russian laws, such as those on presidential and state duma elections, guarantees of voting rights, as well as the country’s main cryptocurrency law, “Digital Financial Assets.” officially adopted in January this year. The next step in the development of the bill will be to consider possible changes in mid-June.

The elections to the State Duma are scheduled on September 2021 with the pro-Kremlin ruling party United Russia, which expects to take over two-thirds of the Duma’s 450 seats.

The Duma is clearly concerned about the cryptoactivity of the new MEPs, as the Russian opposition is well known for accepting bitcoins (BTC). Russia’s “Anti-Corruption Foundation” – founded by imprisoned Kremlin critic Alexei Navalny and now declared extremist organization – had accepted Donations in bitcoins since 2016.

Russian government cryptocurrency reporting requirements are selected Earlier this year, public officials even forced some to sell their cryptocurrencies.



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