Sberbank is the largest bank in Russia. Recently the bank has asked one of its clients to give all the information about their cryptocurrency revenue. The news was first reported by Forbes Russian version.
Vladamir Smerkis, the co-founder of cryptocurrency trading platform Toxenbox.io, stated that
“The bank sent a formal notice to the unnamed client and asked the person to provide all the details about the income he/she has earned from cryptocurrencies. The letter mentioned Federal Law No. 115 “Combating the Money Laundering and Terrorism Financing.” The client has already provided all the required details about cryptocurrency revenue to the bank.”
The Sberbank wanted the details of client’s crypto wallet address and the kind of mining equipment that the client uses and the hash rate indicators.
The bank asked for documents to confirm whether the client owned the mining equipment, or he took it for lease.
Smerkis said that “we are very much perturbed by how Sberbank can appeal to terms that do not yet exist in Russian law.”
Artem Tolkachev, the founder and CEO of Tokenomica, stated that these kinds of requests would help in legally introducing the cryptocurrency revenues into circulation.
Dmitry Medvedev, the Russian Prime Minister, has stated that “their government is least concerned about the cryptocurrency regulations as it is losing its popularity. While the cryptocurrency popularity has fallen, the crypto market may still rally. “
Russia’s Lower House has passed a bill “On Digital Financial Assets” in May 2018. But the Duma sent back the bill due to the lack of main concepts like crypto mining.