![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516774517/rs4r0esm9lkdybjdryds.png)

The law on regulating crypto in Russia, submitted by the Ministry of Finance and the Central Bank, requires MEPs to declare their investments in the crypto. At present, civil servants are not obliged to declare their crypto investments.

Russian Finance Market Representative Anatoly Aksakov has explained that Russian officials will have to declare their investments in the crypto of the bill recently presented by the Central Bank and the Ministry of Finance. In this bill, which is expected to be ready in February, the Treasury proposes to treat crypto as "another property."

In an interview with Gazeta, Asakov revealed that if the bill were to be adopted, "officials would be forced to point out their investments in the crypto in their income statements. This will happen automatically with the adoption of the law on the definition of crypto as property. "

>"If the law provides that this crypto-property is property, any property owned by civil servants must be declared."

Russia is not the only country to submit a bill that requires MEPs to declare their investments in the crypto. Earlier in the week, it became clear that a South Korean lawmaker presented a bill requiring government officials to declare their investments in the crypto.

### No declaration is currently required
The Russian bill requires civil servants to declare their investments in cryptoL. Earlier this month, the Russian Ministry of Labor announced that civil servants should not declare their investments in crypto. The income declaration form does not provide for the indication of goods, services that are received in kind, as well as crypto. Aksakov told Gazeta that there are two laws. The first sets out the regulatory framework for crypto, initial coin proposals (ICO) and crypto yield. The second regulatory framework applies to group funding. This includes procedures that "need to be applied, for example, in the case of bankruptcy of an organization that has totaled tokens to attract investment to implement a project".

The Ministry of Finance is also working on a bill to legalize the crypto trade in approved exchanges. Aksakov also revealed:

"The Central Bank is very cautious about this, but I think we will still go faster than expected by the Central Bank. Since this is a phenomenon, we are not likely to ban it. And if we do not, then we will direct people to criminal activities. "

<hr>

image source - Instagram