Russia is continuing its unpredictable relationship with cryptocurrency.  At one time, there was talk of the country banning cryptocurrency, though that never happened.  Russia eventually legalized it, but did not allow cryptocurrency to be used to make payments.  In December 2020, Reuters reported that President Vladimir Putin signed an order requiring that Russian public officials would have to declare cryptocurrency holdings starting January 1, 2021.

Now, Coindesk and Coin Telegraph are reporting that, under a regulation that went into effect in December, certain officials are barred from owning cryptocurrency.   This applies not only to government officials but also to board members of the Bank of Russia and even the leaders of government-owned companies and corporations.  Spouses and underage children of those subject to the regulation also may not own cryptocurrency.  April 1, 2021 is the deadline set for divestment of existing ownership.

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David Zaslowsky has a degree in computer science and, before going to Yale Law School, was a computer programmer. He is currently the Chairman of the Litigation Department of the firm’s New York office. His practice focuses on international litigation and arbitration. He has been involved in cases in trial and appellate courts across the United States and before arbitral institutions around the world. Many of David’s cases, including some patent cases, have related to technology. Since 2008, David has been included in Chambers for his expertise in international arbitration.