The Russian Federation Council has recently approved a new cryptocurrency taxation regime as Bitcoin reaches record highs against the ruble. The new legislation, which recognizes digital currencies as property, implements a personal income tax of 13%–15% on cryptocurrency sales and exempts crypto miners from value-added tax (VAT) on mined coins. The bill passed multiple readings in the State Duma before receiving approval from the Federation Council and is pending President Vladimir Putin's signature to become law. Furthermore, mining infrastructure operators are required to report their activities to local authorities, with penalties for non-compliance set at 40,000 rubles (approximately $360). As Bitcoin prices hit an all-time high of about 11 million rubles, partly due to its global rise and the ruble's depreciation against the U.S. dollar, this new regulatory framework aims to leverage the booming crypto market.

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