🔵The Russian government has approved amendments to the draft law on cryptocurrency mining. Digital currencies have been recognized as property for tax purposes. Income from mining will be calculated based on market value, with the possibility of deducting expenses incurred during the mining process. Cryptocurrency transactions will not be subject to VAT, and income from such operations will be included in a single tax base alongside income from securities transactions. The personal income tax (PIT) rate for cryptocurrency taxation will not exceed 15%.
🔵Mining infrastructure operators will be required to report to tax authorities on individuals who engage in mining using their infrastructure. Additionally, Russia has created a registry of miners and established basic regulations for cryptocurrency mining. The government reserves the right to restrict mining in certain regions. Individual miners will be subject to energy consumption limits.