Officials free to receive bribes in Bitcoin – Ministry of Labour drops virtual currency from declarations


January 10, 2018 – FRN – 

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 KtovKurse – translated by Inessa Sinchougova 

The Ministry of Labor, in its updated guidelines, has allowed state employees not to declare virtual currencies in the data on their income for the reporting year of 2017.

In Russia, the status of crypto-currencies has not been determined yet – the government and the Bank of Russia are working on a draft law on their regulation. The final version of the project should be submitted in the first half of 2018.

Experts believe that the optional declaration of virtual currencies allows for bribes, for example, in bitcoins. 

State officials are advised to indicate other places of work, if they exist (the law allows officials to engage in scientific and creative activities).

The Ministry of Labor is developing recommendations on filling income declarations with the participation of the presidential administration and the Prosecutor General’s Office.

Civil servants are guided by the document in the preparation of income statements for the year. The President, the federal civil servants and the staff of the presidential administration have to submit declarations by April 1.

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