Putin ordered to stop illegal withdrawal of digital financial assets from Russia

Russian President Vladimir Putin touched on the topic of digital financial assets during today’s expanded meeting of the Board of the Prosecutor General’s Office, dedicated to the results of the department’s work over the past year. The comment was voiced at the end of the speech and related to the illegal withdrawal of money abroad with their help.

Studying the draft final decision of the board, Putin highlighted in it “a fairly new but significant” point: “Take additional measures to suppress illegal cross-border movement of funds of digital financial assets.”

“Criminal elements are increasingly using these digital financial assets, and this certainly needs to be paid close attention to with colleagues from other departments, including Financial Monitoring,” the head of state said.

On January 1, the law “On digital financial assets” came into force in Russia, which prohibits the use of cryptocurrencies as a means of payment in the country. Last month, during a meeting with the President, Rosfinmonitoring Director Yuri Chikhanchin announced the creation of a Transparent Blockchain system that allows “to see all movements with cryptocurrency, that is, attempts to hide behind cryptocurrency, because it is inaccessible, it makes it possible to hide the true beneficiary.”

On February 17, the State Duma in the first reading approved the draft law on taxation of cryptocurrencies. Anton Gorelkin, a member of the State Duma Committee on Information Policy, recently admitted that the minimum threshold from which citizens will have to report on their cryptocurrency assets may be changed.

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