Russia Classifies Crypto as Property Under Internal Revenue Code, Establishing Tax Framework Beneficial for Bitcoin After Trump's Victory

A recent commentary highlighted a new bill in Russia that classifies cryptocurrency as property under the Internal Revenue Code, establishing a taxation framework for the digital asset sector. This legislative move is seen as beneficial for Bitcoin, potentially stabilizing its market position. Observers noted that the implications of this bill could impact the government's ability to recognize capital losses from crypto investments, which may lead to financial advantages for the state if the crypto market declines. Additionally, discussions have emerged regarding whether the recent U.S. presidential election results, specifically Donald Trump's victory, have created divisions within the crypto community.