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
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David Zaslowsky is partner in the Litigation Department of Baker McKenzie's New York office. He helps companies solve complex commercial disputes in arbitration and litigation, especially those involving cross-border issues and Section 1782 discovery. David has a degree in computer science and, as a result, has worked on numerous technology-related disputes, including, most recently, those involving blockchain and artificial intelligence. In April 2025, Attorney Intel named David one of the top 25 blockchain lawyers in the country. He is the editor of the Firm's blockchain blog and co-editor of the firm's International Litigation & Arbitration Newsletter. David has been included for a number of years in the Chambers USA Guide and Chambers Global Guide for his expertise in international arbitration. He also sits as an arbitrator and is on the roster of arbitrators for a number of arbitral institutions. David sits on the Board and chairs the governance committee of the New York International Arbitration Center, and is a founding member of the International Arbitration Club of New York. For over 35 years, he has written and spoken often on the subjects of arbitration and international litigation.