Russian bankers propose to deanonymize cryptocurrency owners

Russia deanonymization

The Association of Banks of Russia (ADB) has prepared the concept of cryptocurrency circulation. It involves the deanonymization of the owners of digital assets and the introduction of criminal liability for their concealment, reports TASS.

The concept describes the procedure for collecting crypto in the framework of enforcement proceedings, bankruptcy or taxation.

As part of the proposed procedure, at the request of the creditor, “specialized market agents” establish the identity of digital assets' owners, which, by a court decision, are required to transfer passwords from electronic wallets.

In accordance with the concept, individuals are required to declare cryptocoins upon purchase and pay taxes after their sale. The taxation of individuals will be similar to the taxation of investors in the securities market.

Note that ADB is a non-governmental organization and it does not include the largest banks in Russia, such as Sberbank, Alfa-Bank or VTB.

Earlier, Russian lawyers proposed equating cryptocurrencies with property rights and giving privileges to miners.