The Russian Ministry of Finance recently proposed a draft amendment, planning to impose a 15% tax on cryptocurrency income! 🎉 This proposal aims to better regulate cryptocurrency mining and trading activities. According to the draft, miners' income will be taxed at market value upon receipt, while allowing for the deduction of operating expenses, ensuring the balance of tax calculations. 💰

In addition, cryptocurrencies will be treated as property for taxation purposes, while value-added tax (VAT) on transactions will be eliminated, and the method of taxing transaction income will be similar to securities trading. 📈 Mining infrastructure operators will also have new obligations, needing to report the usage of their facilities to tax authorities. Although specific disclosure requirements have not yet been clarified, this undoubtedly brings new challenges and opportunities for the industry! 🚀