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Russian Public Officials Banned From Holding Cryptocurrency

Central Bank of Russia

Mon, 25 Jan 2021, 11:20 am UTC

Russian government officials must dispose of any digital asset holdings before April 1, a letter from the Ministry of Labor states.

Russia’s Ministry of Labor has informed officials of federal and local government bodies that they are prohibited from owning cryptocurrency and must dispose of any holdings.

A document, published on the Ministry’s website and dated December 16, 2020, indicates the directive is aimed at preventing corruption. The news was first reported by Russian crypto news outlet Forklog.

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