The Association of Russian Banks proposes to introduce criminal liability for the concealment of digital assets

ARB has suggested that digital assets should be made available for recovery in enforcement proceedings, bankruptcy or taxation. In the proposed scheme, market agents will provide lenders with services to identify owners of digital assets, Kozlachkov said.

It is proposed to establish the ownership of the digital asset in court. After the court decision, their owner will have to provide the keys to the wallets. The ARB believes it is necessary to criminalize the concealment of digital assets and the refusal to transfer keys. It follows from this provision that anonymous use of cryptocurrencies will not be possible.

It also provides for the differentiation of the taxation of various transactions with cryptocurrencies. Thus, it is proposed that transactions for the purchase of goods and services be subject to foreign exchange taxation, and that transactions for the purchase and sale of cryptocurrencies themselves be subject to income tax.

To record transactions with cryptocurrencies and profit taxation, ARB proposes to oblige individuals to declare the purchase of digital currencies in the framework of tax legislation.

"On the one hand, we are concerned about taking the instrument away from fraudsters, on the other hand, to give the opportunity to legally use the instrument and pay taxes," Kozlachkovsaid.

The Association of Russian Banks was founded at the end of 1990 and takes an active part in the formation of banking legislation in Russia. We should not confuse this with the Association of Russian Banks, which, unlike the ARB, does not include the largest banks in the country. The ARB Board is chaired by Anatoly Aksakov, who also serves as Chairman of the State Duma Committee on Financial Markets. Among others, the ADB Board includes German Gref, President of Sberbank of Russia, and Andrey Kostin, President of VTB Bank.