Russian President Vladimir Putin wants the country’s law enforcement agencies to focus more on the digital currency industry, which he believes is being used increasingly by “criminal elements.”
Public officials in Russia must include digital currencies owned by their spouses and children, and must report by June 30, 2021.
The bill, signed by President Vladimir Putin, bans citizens from using digital coins to pay for goods and services.
Russian President Vladimir Putin is reigniting a decades-old rivalry, saying the United States has the Internet, but blockchain technology will be Russia’s.
Russian billionaires reportedly advised Venezuelan President Nicolas Maduro in his efforts to create petro, the first state-backed cryptocurrency in the market.
There are two draft laws that focus on blockchain technology which have been developed and form the basis of the cryptocurrency legislation.