Anastasia Sentsova and Yelisey Boguslavskiy write:
On January 1, 2021, the Russian authorities introduced a new law regulating cryptocurrencies. This law may be a manifestation of the Russian government’s desire to seek control over the DarkWeb markets and its ransomware sector that became extremely prolific over the past two years. The criminal business that runs on cryptocurrency flows is likely to become more loyal to the government, in turn, destructive for those who oppose the regime.
Takeaways
- The new Russian crypto law requires all cryptocurrency holders including individuals, companies, and Russian authorities to report their crypto transactions and wallet balances if the transaction amounts exceed 600,000 Rubles (approximately $8,124 USD) in a calendar year. The law intends to prevent illegal cryptocurrency transactions and money laundering.
- In reality, the crypto law might be part of a Russian Sovereign Internet bigger plan and pursue hidden goals:
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