Techub News reported by 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 was passed in a plenary session after being approved in the lower house State Duma the day before. The new law classifies digital currencies (including currencies 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 participants in the industry. Additionally, services provided by authorized organizations that facilitate transactions within these experimental regimes will also be tax-exempt. It is also stipulated that operators of mining infrastructure must report the personal data of individuals using their systems to tax authorities. Income from digital currency mining will be treated as taxable income and will form the basis for personal income tax.