The state Duma is preparing a bill against the use of cryptocurrency for tax evasion

The state Duma prepare the bill which will prevent tax evasion through the transfer of funds to cryptocurrencies, the Chairman of the Duma Committee on financial market Anatoly Aksakov.

«Now there is a theme of avoiding declaring income. This requires a proper description. Some people go out of dollars of deposits, buy bitcoins and do not declare because it is the way our legislation is not defined. There is a group that works on that part, and they have already given their proposals,» – said Aksakov.

According to him, also amended the bankruptcy law to enable cryptocurrency to the bankruptcy estate, the Civil code, to smart contracts could be regarded as a material for determining validity of contracts.

«We can describe the concept, describe the procedure for ICO, but it won’t work because it’s not built into our legal structure. It is important that all these things were written», – said Aksakov.

In turn, the Ministry of labor has taken the opposite position, releasing guidelines for officials «in connection with the submission of information about income, expenses, about property and obligations of property character, and filling in the appropriate forms reference in 2018 (for reporting 2017)».

The document mentions cryptocurrencies – in particular, officials are not allowed to declare them. No prizes for guessing that it may cause an increase in the number of bribes in bitcoin or anonymous digital currencies such bribes will be difficult to track and identify the part of the crime.

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