Mikhail Mishustin, the Russian Prime Minister in office since January 2020, said yesterday (November, 26th) that Russia intends to treat cryptocurrencies as property and regulate the market.

This is a link to read the official content of the meeting held yesterday: http://government.ru/meetings/40948/stenograms/ but for those who do not understand Russian, I'll tell you the main contents related to the crypto world.

The official governmental transcript states that:

"The interest in cryptocurrencies is constantly growing, and the Government plans to direct the development of this market in a civilized way so that the owners of such assets can protect their rights and interests, while at the same time preventing shadow schemes."

Regarding taxation system and protection from scams, he said he aims to change the:

"Tax Code so digital financial and crypto assets can be recognized as property, and their owners will be able to count on legal protection in the event of any illegal actions, as well as to defend their property rights in court".

The Russian Prime Minister also referred to the possibility of the introduction of an obligation to report crypto transactions and hodlings above a certain threshold, as well as legal consequences for those who will not declare them.

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