Deputy Minister of Finance of Russia: “Cryptocurrency payments deprive citizens of legal protection"

Deputy Minister of Finance of Russia: “Cryptocurrency payments deprive citizens of legal protection"

People depriving themselves of legal protection by buying real estate for cryptocurrency, said Deputy Finance Minister of Russia Alexei Moiseev At the JLL and Sberbank CIB conference.

"I call on all of you to be cautious: if you buy real estate for assets similar to the cards from the Monopoly game, you are violating the constitution. And it says that the ruble is the national currency in Russia," the deputy finance minister said.

He compared such deals to transactions in any foreign currency.

"We see cryptocurrency transactions in the same way as settle in foreign currency, which is negative. It is very often the case that the one insisting on cryptocurrency transaction tries to hide taxes or the origin of the funds. And in case of fraud by one of the parties, the opposite will not be able to count on legal protection," concluded Alexei Moiseyev.

 

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