Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

2025-05-21

Was the founder of Cardano $ 619 million? Hopkinson makes shocking revelation

2025-05-21

According to Senator Hagerty, these crypto entities will be the biggest holders of American treasury in the world

2025-05-21
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Smarter athlete data via PSG Labs and Joint Innovation Studio

    2025-05-21

    Sahara AI launches Siwa Testnet to authorize decentralized AI builders

    2025-05-21

    WalletConnect’s Smart Sessions ‘Redefine’ Wallet UX for Future or AI agents: Founder

    2025-05-21

    Adventure Layer is launched as First Gaming L2 on Berachain

    2025-05-20

    Arbitrum affects $ 1.5 billion volume milestone on Uniswap V4

    2025-05-20
  • NFT

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

    2025-05-21

    JPMorgan Chase CEO warns the stock market witnessing ‘extraordinary amount of complacency’ in the midst of abrupt recovery

    2025-05-21

    Cardano (ADA) in Focus: Can it break this barrier and recover Momentum?

    2025-05-21

    Trader warns Bitcoin (BTC) blinking bearish signal, says gold that steam collects for the next leg up

    2025-05-20

    XRP -Price will still gather here, crypto -veteran Raoul Pal predicts

    2025-05-20
  • Learn

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»Russia formalizes tax framework for cryptocurrencies and mining
Russia formalizes tax framework for cryptocurrencies and mining
Regulation

Russia formalizes tax framework for cryptocurrencies and mining

2024-11-29No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The Russian Federation Council has approved sweeping changes to the country’s tax code, formalizing the tax framework for digital currencies such as Bitcoin (BTC).

The legislation, passed on November 27, represents a crucial step towards regulating the fast-growing crypto sector while ensuring tax compliance.

Extensive tax laws

The new law, entitled “On Amendments to Parts One and Two of the Tax Code of the Russian Federation and Certain Legislative Acts of the Russian Federation,” was introduced by Alexander Shenderiuk-Zhidkov, Deputy Chairman of the Committee on Budget and Financial Affairs of the Federation Council . Markets.

The amendments define digital currencies as property for tax purposes and provide legal clarity that aligns with Russia’s broader regulatory objectives. According to the updated tax law, income from crypto transactions will be taxed under a progressive income tax system.

Income up to a certain threshold is subject to a tax rate of 13%, while higher income groups are subject to a tax rate of 15%. This structure aims to balance government revenue generation with fairness for individuals and companies involved in digital asset trading.

In addition, mining operators must report detailed information about their activities to local tax authorities, a move that aims to increase transparency and address potential regulatory loopholes in the mining sector.

This includes disclosures about mining operations carried out on behalf of clients and addressing long-standing concerns about regulatory gaps and potential tax evasion in the sector.

Exemptions for Mining

The legislation exempts certain crypto activities from value added tax (VAT), including transactions related to the mining and sale of digital currencies, distinguishing them from other taxable economic activities. This provision is seen as a major incentive for miners and crypto companies operating in Russia.

See also  Woo: "Binance Customers Don't Care About" SEC Enforcement Action

The legislative efforts come as Russia steps up its oversight of digital currencies amid global debates over their regulation. The government has also introduced measures to restrict crypto mining in energy-poor regions, to ensure that mining activities do not burden the country’s electricity grid.

Analysts estimate that the new tax framework could generate up to 200 billion rubles (about $2 billion) in state revenues annually, strengthening public finances while supporting the digital economy.

Critics of the legislation have raised concerns about potential enforcement issues, particularly in monitoring decentralized financial activity. However, proponents argue that the law strikes a necessary balance between promoting innovation and maintaining fiscal responsibility.

The changes are part of a broader strategy to integrate digital currencies into the Russian financial system while addressing risks associated with unregulated markets.

Source link

cryptocurrencies formalizes framework mining Russia tax
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

According to Senator Hagerty, these crypto entities will be the biggest holders of American treasury in the world

2025-05-21

US Senate promotes genius law in the midst of dual support

2025-05-21

Huiscommissie Press JPMorgan Chase, Bank of America to give Major Hong Kong Deal

2025-05-21

Robinhood calls on SEC to set up a uniform regulation framework for Tokenized Rwas

2025-05-20
Add A Comment

Comments are closed.

Top Posts

Stay tuned for Cristiano Ronaldo’s latest NFT journey, coming soon on Binance

2024-05-24

B2 Network reveals Power Bank -Terminals in Asia in collaboration with Shalex

2025-05-04

CyberKongz Reveals Bitcoin Runes Airdrop Details, ‘Mad Rush’ Behind Etchings

2024-04-25
Editors Picks

Web3 paywalls are a game changer for content creators, but here’s why CryptoSlate is betting on Access Protocol

2023-05-04

NFTs and crypto provide fundraising options for breast cancer awareness

2022-10-14

In mid-May, NFT sales drop by 8.97%, with top 4 chains seeing reductions

2024-05-18

US Banking Industry Could Take Massive Hit To Stock Prices in Coming Months, Says Macro Guru Hugh Hendry

2023-08-21
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

Was the founder of Cardano $ 619 million? Hopkinson makes shocking revelation

According to Senator Hagerty, these crypto entities will be the biggest holders of American treasury in the world

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$106,581.001.19%
  • ethereumEthereum(ETH)$2,547.181.16%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.350.25%
  • binancecoinBNB(BNB)$654.681.55%
  • solanaSolana(SOL)$169.211.59%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2268722.67%
  • cardanoCardano(ADA)$0.763.66%
  • tronTRON(TRX)$0.271448-0.62%
  • suiSui(SUI)$3.881.10%
  • chainlinkChainlink(LINK)$16.042.14%
  • avalanche-2Avalanche(AVAX)$22.782.81%
  • stellarStellar(XLM)$0.2902102.42%
  • hyperliquidHyperliquid(HYPE)$26.691.65%
  • shiba-inuShiba Inu(SHIB)$0.0000152.04%
  • hedera-hashgraphHedera(HBAR)$0.1956700.86%
  • unus-sed-leoUNUS SED LEO(LEO)$8.811.19%
  • bitcoin-cashBitcoin Cash(BCH)$397.782.31%
  • the-open-networkToncoin(TON)$3.060.48%
  • polkadotPolkadot(DOT)$4.692.71%
  • litecoinLitecoin(LTC)$95.462.15%
  • moneroMonero(XMR)$363.793.68%
  • bitget-tokenBitget Token(BGB)$5.140.04%
  • piPi(PI)$0.8110.24%
  • pepePepe(PEPE)$0.0000146.68%
  • daiDai(DAI)$1.000.01%
  • ethena-usdeEthena USDe(USDE)$1.000.02%
  • uniswapUniswap(UNI)$6.287.52%
  • aaveAave(AAVE)$255.12-3.28%
  • bittensorBittensor(TAO)$416.35-0.23%
  • nearNEAR Protocol(NEAR)$2.823.13%
  • aptosAptos(APT)$5.191.86%
  • okbOKB(OKB)$52.030.31%
  • ondo-financeOndo(ONDO)$0.951.26%
  • kaspaKaspa(KAS)$0.111211-1.17%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.408.58%
  • ethereum-classicEthereum Classic(ETC)$18.602.21%
  • internet-computerInternet Computer(ICP)$5.272.48%
  • gatechain-tokenGateToken(GT)$21.610.95%
  • crypto-com-chainCronos(CRO)$0.0967680.63%
  • mantleMantle(MNT)$0.740.46%
  • vechainVeChain(VET)$0.0285463.71%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2329551.43%
  • render-tokenRender(RENDER)$4.671.83%
  • ethenaEthena(ENA)$0.3904445.07%
  • usd1World Liberty Financial USD(USD1)$1.000.07%
  • algorandAlgorand(ALGO)$0.2269033.31%
  • arbitrumArbitrum(ARB)$0.4003232.43%
  • filecoinFilecoin(FIL)$2.892.35%
  • bitcoinBitcoin(BTC)$106,581.001.19%
  • ethereumEthereum(ETH)$2,547.181.16%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.350.25%
  • binancecoinBNB(BNB)$654.681.55%
  • solanaSolana(SOL)$169.211.59%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2268722.67%
  • cardanoCardano(ADA)$0.763.66%
  • tronTRON(TRX)$0.271448-0.62%
  • suiSui(SUI)$3.881.10%
  • chainlinkChainlink(LINK)$16.042.14%
  • avalanche-2Avalanche(AVAX)$22.782.81%
  • stellarStellar(XLM)$0.2902102.42%
  • hyperliquidHyperliquid(HYPE)$26.691.65%
  • shiba-inuShiba Inu(SHIB)$0.0000152.04%
  • hedera-hashgraphHedera(HBAR)$0.1956700.86%
  • unus-sed-leoUNUS SED LEO(LEO)$8.811.19%
  • bitcoin-cashBitcoin Cash(BCH)$397.782.31%
  • the-open-networkToncoin(TON)$3.060.48%
  • polkadotPolkadot(DOT)$4.692.71%
  • litecoinLitecoin(LTC)$95.462.15%
  • moneroMonero(XMR)$363.793.68%
  • bitget-tokenBitget Token(BGB)$5.140.04%
  • piPi(PI)$0.8110.24%
  • pepePepe(PEPE)$0.0000146.68%
  • daiDai(DAI)$1.000.01%
  • ethena-usdeEthena USDe(USDE)$1.000.02%
  • uniswapUniswap(UNI)$6.287.52%
  • aaveAave(AAVE)$255.12-3.28%
  • bittensorBittensor(TAO)$416.35-0.23%
  • nearNEAR Protocol(NEAR)$2.823.13%
  • aptosAptos(APT)$5.191.86%
  • okbOKB(OKB)$52.030.31%
  • ondo-financeOndo(ONDO)$0.951.26%
  • kaspaKaspa(KAS)$0.111211-1.17%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.408.58%
  • ethereum-classicEthereum Classic(ETC)$18.602.21%
  • internet-computerInternet Computer(ICP)$5.272.48%
  • gatechain-tokenGateToken(GT)$21.610.95%
  • crypto-com-chainCronos(CRO)$0.0967680.63%
  • mantleMantle(MNT)$0.740.46%
  • vechainVeChain(VET)$0.0285463.71%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2329551.43%
  • render-tokenRender(RENDER)$4.671.83%
  • ethenaEthena(ENA)$0.3904445.07%
  • usd1World Liberty Financial USD(USD1)$1.000.07%
  • algorandAlgorand(ALGO)$0.2269033.31%
  • arbitrumArbitrum(ARB)$0.4003232.43%
  • filecoinFilecoin(FIL)$2.892.35%