New cryptocurrency step from Russia!
Russian President Vladimir Putin saved the law that classified and taxed digital and cryptocurrency assets.
With the new decree signed by Putin, crypto and digital currencies will now be officially included in the asset class in Russia. According to this regulation, cryptocurrency mining and the value of digital coins obtained will be exempt from tax. However, infrastructure providers carrying out mining activities will be obliged to provide information to the relevant tax authorities.
Income from mining cryptocurrency will be classified as personal income, and the value of the digital currency obtained will be determined according to market prices.
The use of digital assets and cryptocurrencies has become increasingly common following the elimination of SWIFT payment processing by Russia's banks. President of the Central Bank of Russia, Elvira Nabiullina, announced that the use of crypto money in international payments could begin throughout the year.
