Russia Introduces Crypto Tax: Miners to Pay Up to 15% 👏🏻
#Russia is finalizing a crypto tax bill imposing a 13%-15% tax on Bitcoin miners’ annual revenues, marking a significant regulatory milestone. Cryptocurrencies are officially classified as property, resolving #legal ambiguities.
Miners gain #VAT exemptions on transactions, but face tiered tax rates and strict reporting requirements. Rising demand for mining hardware has increased equipment prices, while energy constraints and unregulated operations challenge the sector. Seasonal mining bans and federal oversight aim to stabilize the industry, but uncertainties persist despite legalization.
This is bullish!
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