Krypto Mining should be registered and taxed in Russia, says the chairman of the financial market committee-Mining Bitcoin news
Krypto Mining should be registered and taxed in Russia, says the chairman of the financial market committee-Mining Bitcoin news
The mining of cryptocurrencies should be registered as an entrepreneurial activity and taxed as such, says Anatoly Aksakov, chairman of the Russian Parliamentary Financial Market Committee. The legislator is also of the opinion that the Russian regulations for digital currencies must be refined.
Changes that are likely to have a mining, taxation, definition of the digital currency
In the forthcoming changes to the legislation to digital currencies in Russia, the head of the State Duma Financial Market Committee, Anatoly Aksakov, expressed his opinion that the mining of cryptocurrencies should be included in the Russian register of entrepreneurial activities.
The treatment of crypto mining and the taxation of operations in connection with cryptocurrencies are among the areas that will probably be affected by the changes in the law that are to be adopted during the autumn session of the Russian parliament. In a conversation with the news agency Tass on the edge of the Moscow Financial Forum, Aksakov explained this week:
Since it is an entrepreneurial activity, it is of course necessary to enter it in the register, to assign a corresponding code and to introduce the taxation.
The MP was positive about the fact that changes in digital currencies were to be expected, since Duma has already passed a law on taxation of "actually cryptocurrencies" in the first reading. At the beginning of this month, the chairman of the Law Committee, Pavel Krasheninnikov, told Interfax that he hoped that the law will end up in the lower house in the coming months.
Anatoly Aksakov continued to find that the use of the legal term in relation to cryptocurrencies, as it is now defined, is creating confusion. The term "digital currency" can refer to a digital currency of the central bank ( cbdc ) The legislature also explained as a cryptocurrency. Aksakov says the two should be clearly differentiated.
The chairman of the financial market committee insisted that further discussions are necessary to determine what "digital currency" actually means. Although cryptocurrency in Russian law is called digital currency, Aksakov pointed out that it is more used as a financial instrument and financial asset for investment purposes than as a means of payment.
The high -ranking member of the Russian Parliament added that the powers of the Bank of Russia should also be determined to issue a digital ruble and to maintain its circulation. The currency authority announced a plan for digitizing the national Fiat currency last October. The central bank is preparing for issue a prototype by the end of this year.
What expectations do you have to the upcoming legal changes in relation to cryptocurrencies and associated activities in Russia? Let us know in the comment area below.
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