Russia's Crypto Tax Law Reform: Opening a New Era of Opportunities

Recently, Russia's newly introduced crypto tax law officially classifies digital currencies as property and exempts mining from value-added tax, marking a significant change that signifies a new chapter in the regulatory environment! On November 27, the upper house of the Russian Parliament passed this key legislation, establishing a clear tax framework for digital currencies, bringing more stability and confidence to the industry.

Under the new law, mining and sales transactions of digital currencies will no longer be subject to value-added tax, significantly reducing the financial burden on industry participants. At the same time, mining income will be considered taxable income and will be subject to the standard corporate income tax rate. These measures aim to enhance transparency, promote controllable growth, and contribute to public revenue.

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