According to Bitcoin.com, the Federation Council of the Russian Parliament approved a government-initiated bill on Wednesday that outlines the tax framework for digital currencies. This legislation passed in the plenary session after being approved the day before in the lower house, the State Duma. The new law classifies digital currencies (including those used as payment tools under an experimental legal regime) as property under Russian domestic tax law. This classification exempts digital currency mining and sales transactions from Value Added Tax (VAT), easing the financial obligations of industry participants. Additionally, services provided by authorized organizations that facilitate transactions within these experimental regimes will also be tax-exempt. An important provision requires operators of mining infrastructure to report personal data of individuals using their systems to tax authorities. Income from digital currency mining will be considered taxable income and form the basis for personal income tax. Danil Volkov, head of the Ministry of Finance department, stated that businesses engaged in mining activities must pay taxes at the standard corporate income tax rate.