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Russian President Vladimir Putin has signed a law recognizing Bitcoin and other cryptocurrencies as property, allowing for their use in foreign trade settlements. This new legislation introduces a taxation framework for cryptocurrency transactions, with personal income taxes on crypto earnings set at 13% for earnings up to 2.4 million rubles and 15% for higher earnings. Mining and sales of cryptocurrencies are exempt from value-added tax (VAT), but operators must report clients or face fines of 40,000 rubles (~$400). The law also taxes mining income progressively, with deductions for expenses, and crypto trading income at 13%. This move is seen as a significant step in formalizing the regulation of cryptocurrencies in Russia, potentially paving the way for increased institutional investment and clearer legal frameworks for digital assets.