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Russian authorities want to either completely ban cryptocurrencies or legalize exchanges and exchangers


According to Anatoly Aksakov, chairman of the Duma committee on the financial market, at the moment the Russian authorities are considering two completely opposite approaches to the regulation of cryptocurrencies in the country.

The first is the legalization of the respective exchanges. The second approach, accordingly, implies a complete ban on cryptocurrencies.

There are very tough approaches that completely prohibit the acquisition, ownership of cryptocurrencies. There is an approach that there should be appropriate crypto exchangers, exchanges should be legalized so that everything is transparent and understandable to regulatory authorities, and the same Federal Tax Service (FTS) would make it easier to tax these transactions.

All the discussions related to how to determine the appropriate new instruments and how to tax them must be completed in the spring session (from January 10 to July 31, 2022), so that in the next tax period, 2023, we can already enter with full understanding of how all this should be regulated

There are also discussions about mining.

If we define mining as a type of business activity, then it must acquire OKVED and be taxed accordingly. I think that we will come to this, I believe that we need to legalize it, including from the point of view of taxation, including from the point of view of electricity consumption, as a business institution, and not as individuals who receive at preferential rates electricity

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