Russian Prime Minister has assured crypto holders about the legal protection of cryptocurrency

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Russian Prime Minister Mikhail Mishustin made a statement at a government meeting on the 26th that he proposed the introduction of legal protections for crypto holders in the country in order to contribute to the growth of the new industry.

Mikhail Mishustin, Prime Minister of Russia

Mikhail Mishustin, 54 years old, former Director of the Federal Taxation Service, replaced Russia’s former prime minister Dmitry Medvedev in January 2020, whereupon he urged the country to prioritize the development of a digital economy.

“The government plans to direct the crypto market on a civilized course so that owners of such assets can protect their rights and interests while making shady projects more difficult to create.” Mikhail Mishustin said.

As part of the plan, Mishustin proposed amending the Russian Tax Code to recognize cryptocurrencies like Bitcoin as property, stating:

“Let’s make a number of changes to the Tax Code so digital financial assets can be recognized as property, and their owners will be able to count on legal protection in the event of any illegal actions, as well as to defend their property rights in court.”

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