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Turkmenistan Country Postponed Presidential Election

Turkmenistan to hold early presidential election on March 12

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Turkmenistan will hold an early presidential election on March 12, a Central Election Commission official said after President Kurbanguly Berdymukhamedov hinted he planned to resign.

“The president … gave us an instruction to prepare for early presidential elections on March 12,” a spokesman for the election commission, Bezergen Garrayev, told the AFP news agency by telephone.


Berdymukhamedov has run the gas-rich Central Asian nation since 2006 with sweeping powers and no effective opposition. His 40-year-old son Serdar, a deputy prime minister, is seen as the likely successor.

The 64-year-old leader, whose current term was set to end in 2024, is also the prime minister of the former Soviet republic and speaker of the upper house of parliament.

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In his strongest hint yet that he wants to resign, the country’s leader said late on Friday that he reached “a difficult decision” about his leadership because of his age, adding that the country needed “young leaders”.

“The road to governance at this new stage in the development of our country should be given to young leaders who have been brought up in a spiritual environment and in accordance with the high requirements of our time,” Berdymukhamedov said, in quotes relayed by the state information agency.

Berdymukhamedov offered no timeframe for stepping down but said he wished to remain in politics in his role as chairman of parliament’s upper chamber.

A series of promotions given to Serdar – who has served as a diplomat, member of parliament, minister and a provincial governor – has also prompted speculation that the president was grooming him as his successor.

Known as a fan of local Alabai dogs and Akhal-Teke horses to which he has dedicated state holidays and erected monuments, Berdymukhamedov is commonly referred to as Arkadag (Protector) by the media in the former Soviet republic which borders Afghanistan and exports gas to China and Russia.

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US-based democracy research group Freedom House regularly places the gas-rich country alongside North Korea as one of the most politically closed countries in the world, with little known about how the regime makes day-to-day decisions.

A near-total control of information in the country has meant even the most obvious shortcomings of the state cannot be discussed publicly. Reporters Without Borders ranked in 2019 Turkmenistan as the most dangerous country in the world for journalists to do their job.

Berdymukhamedov, who took power after his predecessor Saparmurat Niyazov died in 2006, heads a state where corruption is systemic, and the legal code is subject to the shifting day-to-day whims of the president.

Chronic mismanagement has meant that, despite having some of the largest natural gas reserves in the world, the country’s estimated five million residents face rampant inflation and a faltering economy.

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Putin Obliges Election Candidates To Report Crypto Holdings Outside Russia

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Putin Obliges Election Candidates To Report Crypto Holdings Outside Russia

President Vladimir Putin has approved amendments to his own decree requiring Russian citizens running for office to declare their property abroad. The updated regulation lists cryptocurrencies among the assets that candidates should report to the state.

President Putin Requires Russian Officials to Reveal Crypto Asset Purchases in Foreign Countries

Candidates for government offices in Russia are now expected to provide authorities with details about the crypto funds they have acquired in other jurisdictions. A decree recently signed by Vladimir Putin adds the requirement to an earlier presidential decree on the verification of filed statements on property and property-related liabilities of Russian officials abroad.

The amendments, which entered into force immediately after the signing of the new decree on May 9, concern not only those who run in elections on the federal and regional level but also their close relatives. From now on, their families will have to account for all of their crypto investments as well.

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The new provisions refer to any spending for the purchase of digital financial assets, a term encompassing cryptocurrencies under current Russian law, and digital currency. The latter definition will be introduced with a new law drafted by the Ministry of Finance.

The respective Russian authorities will verify the submitted information. To do that, they will demand documents indicating the value of the purchased crypto assets. Affected Russian citizens and their relatives will have to also share the details of each transaction, including the date and other identifiers.

Officials in Moscow have been working to comprehensively regulate the country’s crypto space as many aspects remained outside the scope of the law “On Digital Financial Assets” which went into force in January, 2021. These include the legal status of cryptocurrencies like bitcoin and related activities such as trading and mining.

In late March, the Russian parliament adopted a bill obliging persons running for office to present information about their digital asset holdings inside Russia. The legislation amends various acts and concerns presidential and parliamentary candidates as well as other government officials. Putin singed it into law in April.

The latest presidential decree targets candidates in elections for state and municipal authorities. It also covers representatives of political parties who have been nominated for the highest posts in any of the constituent entities of the Russian Federation, according to an announcement published by Russia’s portal for legal information.

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candidates, Coins, Crypto, crypto assets, Crypto Purchases, Cryptocurrencies, Cryptocurrency, declarations, Decree, Digital Assets, Digital Currency, Disclosure, Elections, obligation, President, Putin, Russia, russian, Tokens, Vladimir Putin

What do you think about Putin’s decision to oblige election candidates in Russia to disclose their crypto purchases abroad? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Republic Of Ireland To Prohibit Political Cryptocurrency Donations

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Republic Of Ireland To Prohibit Political Cryptocurrency Donations

The government of Ireland is preparing to ban political parties from accepting campaign donations in cryptocurrency. The move aims to block the perceived threat of Russian interference in the European nation’s elections against the backdrop of a clash between the West and Moscow over the war in Ukraine.

Ireland to Limit Foreign Political Support for Its Parties, Including Crypto Donations

The executive power in Dublin is drafting new political integrity rules to limit foreign political donations amid fears that Russia might try to influence Ireland’s electoral process. The stricter regulations are meant to prevent Irish parties from accepting donations through cryptocurrencies and oblige them to fully reveal their properties.

A report by the Irish daily Independent describes the changes as a significant shake-up of the country’s electoral legislation, which will grant the Electoral Commission powers to issue take-down notices to social media platforms and alerts of online misinformation attempts. Local Government Minister Darragh O’Brien, who is leading the reform efforts, has been quoted as stating:

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The appalling invasion of the Ukraine and insidious disinformation war highlight the ongoing fundamental threats faced by all democracies.

O’Brien also unveiled that his colleagues have already agreed to implement the stringent measures he is proposing in order to protect Ireland’s “democratic system given the escalating threat of cyber warfare targeting free countries.” The respective amendments to the political funding laws will be made through the Electoral Reform Bill 2022.

The new Electoral Commission of Ireland, which should be established by the summer, will be tasked to also introduce guidelines for political advertising on the internet, including requirements for parties to clearly state how ads are funded and the audiences they are targeting. Party leaders will have to declare that their political organizations are adhering to the new regulations.

The initiative to update the Irish political funding rules predates the Russian invasion of Ukraine. In January, Darragh O’Brien asked Attorney General Paul Gallagher to establish a taskforce comprising legal experts and political scientists to examine the need for new election integrity laws. He was citing “serious concerns” over the deteriorating security situation in Eastern Europe and “well-documented escalation of cyberattacks on democratic states.”

Meanwhile, the cyberspace has become another battleground in Russia’s war with Ukraine with the two sides registering hacking attacks on government websites and databases. Both Kyiv and Moscow have also turned their attention to cryptocurrencies, with the Ukrainian government raising millions of dollars in crypto donations while the Russian Federation looks to employ crypto assets as a means to evade sanctions.

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bill, Crypto, Crypto Donations, Cryptocurrencies, Cryptocurrency, donations, Elections, Electoral Commission, electoral reform, Funding, Ireland, Irish, Law, Legislation, Measures, parties, Political Parties, Regulations, restrictions, rules, Russia, russian, Ukraine, ukrainian

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Do you expect other European nations to adopt similar restrictions on political crypto donations? Let us know in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Russian Law Requires Election Candidates To Disclose Their Crypto Assets

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Russian Law Requires Election Candidates To Disclose Their Crypto Assets

The Russian parliament has adopted a new law obliging persons running for office to present information about their digital asset holdings. The legislation will amend a number of acts and apply to presidential and parliamentary candidates as well as government officials.

Russian Politicians to Declare Their Cryptocurrency Funds Before Elections

Members of the State Duma, the lower house of Russian parliament, have approved a law under which participants in elections will have to declare their crypto. It requires running candidates to share data about their spending on the acquisition of digital financial assets and digital currency, the Moskovsky Komsomolets daily reported on Wednesday.

The new legislation will introduce various changes including to the laws on the election of the President of the Russian Federation, the deputies in the Duma, the members of the Federation Council, the upper house of parliament, as well as those governing the formation of political parties and the efforts to combat corruption.

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The obligation to disclose the financial information will apply not only to the candidates but also their spouses and children. They all must declare each transaction related to the purchase of cryptocurrencies over the past three years, if the amount exceeds the total income of the family from the three-year period prior to the acquisition. They are also expected to indicate the sources of the funds used for such transactions.

The new legislation will enter into force ten days after its publication, the report notes. Its adoption comes after lawmakers passed another law in February, allowing the Russian state to seek the seizure of illegally obtained funds from officials, including digital assets.

The legislative amendments follow last year’s order by President Vladimir Putin to check officials with crypto holdings. Several ministries and the Central Bank of Russia (CBR) were tasked to verify the information provided by government employees on their income declarations.

The federal government in Moscow has been implementing a new plan to combat corruption among officials. In 2020, the Russian president signed an order compelling government employees and candidates for public office to declare the crypto assets in their possession.

Amid mounting financial sanctions over the war in Ukraine, Russia has been taking steps to regulate its crypto space. While the CBR proposed a blanket crypto ban in January, the conflict has changed the situation and recent statements in the Duma have revealed Russia’s interest in using cryptocurrencies to restore its access to the global financial market.

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In February, the Ministry of Finance submitted a new draft law “On Digital Currency” which aims to legalize crypto operations in the country instead of imposing severe restrictions. Most other Russian institutions and regulators, including the federal government, now back the department’s approach which favors regulation under strict oversight.

Tags in this story

candidates, Corruption, Crypto, crypto assets, Crypto Holdings, Cryptocurrencies, Cryptocurrency, deputies, Disclosure, Elections, Law, lawmakers, Legislation, obligation, Officials, President, Russia, russian, Seizure

Do you expect many political candidates in Russia to disclose cryptocurrency holdings? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Advertisement




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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