🚨🇷🇺 The Russian government has approved a federal bill for new taxes on cryptocurrency transactions. Approved by the country’s upper house of parliament, the Federation Council, on November 27, the law imposes between 13%-15% personal income tax on cryptocurrency sales.

Russia’s upper house has approved tax law amendments requiring mining companies to disclose client information, imposing a maximum 15% income tax on cryptocurrency transactions.

This legislation comes in response to the increase in cryptocurrency activity in Russia and the country’s sovereign wealth fund choosing to invest in Bitcoin mining across the BRICS nation.