The current law on digital financial assets stipulates that citizens have the right to report ownership of cryptocurrency, but not the obligation. According to Kommersant, information about the upcoming changes became known from a scan of a letter from the Federal Tax Service (FTS) circulated on Telegram channels.

If the bill is passed, the Russians will be fined if they do not include income from cryptocurrency transactions in the tax base.

As Mikhail Uspensky, a member of the Russian Bar Association, noted, “it is obvious that ordinary citizens who decide to experiment with crypt will be under the main blow, while professional attackers can easily bypass all restrictions using technical means of anonymization.”