Russia's Finance Ministry has made a proposal to sentence the holders of cryptoassets for up to 3 years in jail for not reporting their crypto assets.
As far as I could understand, everyone who made more than 600K RUB (~8K USD) yearly turnover of any crypto-assets (from holding or trading, no matter) must report it to the Ministry for taxation purposes. Failure to do so will result in penalties and in case of multiply failures and "large" undeclared amounts the person can get up to 3 years in jail. They say it's against "laundering illegal money", as though taxation makes illegal money less illegal. Poor, poor Russian whales...
I don't know, maybe other countries, the EU, and the US already have similar laws. But the above news made me think again about the role of responsibility in the modern world.
In the Middle Ages a king could hang his minister if the minister failed to deliver the results the king was expecting. Even if not being hung, failure to deliver expected results could lead to serious problems for the said "Hand of the King" and sometimes for his family too. Maybe somewhere in North Korea it's still so. But apparently not in the US, EU, and other "democratic" countries.
In today's "democracy", you can be successfully ruining your country's economy year after year for a good salary, bonuses, and allowances -- and then go retire on your villa or take a well-paid seat at some corporation's CEO board. The net result of your whole government career might be just a pile of paper bullshit on taxing, taxing, and taxing some more. You can start a war and lose it, and what? You will not be re-elected, how awful!!1 The higher is your seat on the red-tape shitpile -- the more profits you get and the less real responsibility you bear...
Sometimes I wonder what if Mr. Kim is saner than the democracy in some things?
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