The federal government in Moscow has adopted a concept for regulating the Russian crypto space as early as this month. The new framework is expected
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Russia Eyes $13 Billion in Taxes From Crypto Economy
Authorities expect to collect more than $13 billion as tax payments from the crypto market in Russia, according to a government document quoted by media.
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Russian gov’t and central bank agree to treat Bitcoin as currency
Cryptocurrency transactions of more than 600,000 rubles (roughly $8,000) will have to be declared or be considered a criminal act.
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Simple math says Russia could collect up to $13B in crypto tax each year
The analytic note mentioned that the estimates are purely an overview and based on a basic tax slab of 6%, which would be quite different
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Law Decoded: Tangible wins, new menaces and the global crypto taxation drive, Feb. 1–7
Crypto advocates celebrate wins, the Treasury and SEC seek to introduce crypto-unfriendly rules, and governments rush to levy digital asset taxes.
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Electricity Consumption Spikes in Irkutsk as More Russians Start Mining Cryptocurrency
Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining.
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