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Russia Advances Bill Requiring Disclosure of Foreign Crypto Wallets by July 2026

The measure would require Russian residents to report overseas crypto wallets to tax authorities starting July 1, 2026, according to the source text.

Summary

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Terms & Concepts
  • Crypto wallet: A digital tool used to store and manage cryptocurrency holdings and blockchain-based transactions.
  • Tax authorities: Government agencies responsible for collecting taxes and enforcing tax reporting requirements.
  • Foreign crypto wallets: Cryptocurrency wallets held with providers or platforms outside a user’s home jurisdiction.