Russian President Wants to Verify Russian Citizens’ Crypto Holdings

Russian President Vladimir Putin seeks a new system that forces citizens to reveal their cryptocurrency holdings.

Russian President Wants to Verify Russian Citizens’ Crypto Holdings
Vladimir Vladimirovich Putin image: BBC

According to INC-News, the President notified the Ministry of Labor and the Central Bank that he aims to gather all the facts via a joint report chaired by the Russian Finance Ministry.


Putin told the Ministry of Labor and the Central Bank by the decree “On the National Anti-Corruption Plan for 2021-2024”, which he signed. Also, the report says that Ministers and the Bank of Russia should prepare their proposals on the procedure to verifying information on the ownership of digital assets by November 15.


In addition, the official document published on the portal of legal information says,

“The Ministry of Finance, with the participation of the Ministry of Labor, and the Bank of Russia, should prepare proposals on the procedure for verifying the accuracy and completeness of information on the ownership of digital financial assets, other digital rights, and digital currency. A report on the results of execution to submit by November 15, 2021.”

The departments were given until September 20, 2023, to examine and summarize the practice of giving data on the ownership of digital assets. Also, other digital rights, digital currency, and control over the prices of their property.


According to Rosfinmonitoring, the country’s financial monitoring group, crypto investors would be controlled by a system that traces and examines their actions. Additionally, the tech could identify crypto users.