Declare your crypto wallet in Russia or imprisonment awaits you

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As crypto adoption rises in some parts of the world, crypto enthusiasts, investors will be faced with which nation is friendlier to cryptocurrency.
Could we be seeing migration due to stricter crypto regulations across the globe? A look at the new regulation in Russia might provide answer.

...However, the report stated that this new amendment would come into force in January 2021. According to the new laws, crypto users in Russia have to report their wallet address and its transaction history to Russian tax authorities if the wallet turnover crosses 100,000 rubles ($1,300) in one year.
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And the punishment...

If crypto users do not comply with the regulations, they might face imprisonment for up to three years, and in the case of crypto crimes, the new law would charge users with severe punishment...
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Basically what I see here is government wanting a peace of the your crypto pie, the excuses of crypto being used for crimes and money laundering is just outrageous, all of a sudden focus have been shifted from using fiat for crimes.

The impact of the regulations strict or lenient will determined how investors and people will react to living in such country. You are not going to expect me a full time crypto investor for example with plus 50 bags of Bitcoin and other crypto investment to stay in a nation where I can be imprisoned for not reporting my crypto earning. What if it was an airdropped that mooned like we saw with MEME token.

This regulations is to keep people poor and keep living from hand to mouth, the nations that are reasonably crypto friendly are the ones that will benefit in the long term as the chances of investors flocking for investment and impacting economic growth.

Governments, regulators and whatever bunch they call themselves are the enemy.

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