Russian Duma: Bitcoin is Becoming ‘Objective Reality’
The Russian parliament the Duma has said cryptocurrency “is becoming objective reality” following its legalization earlier this month. Duma: Bitcoin Not A Dream. In continuing debates over how to regulate Bitcoin and its ilk, the country’s Duma is attempting to work out an appropriate course of action. “It’s worth noting that today, cryptocurrency is becoming objective reality,” Andrey Lugovoy, a member of the Security and Anti-corruption Panel, said Tuesday. Given its nature, it’s important to recognize the benefits and risks involved in legalizing virtual currency. It is a new instrument....
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Members of the State Duma are now working on amendments that will permit the use of cryptocurrency as a contractual means of payment. Digital financial assets are regarded as property under Russian law and the changes will legalize crypto payments between parties to a contract. State Duma to Amend Civil Code to Legalize Contractual Crypto Payments The lower house of Russia’s parliament, the Duma, is gearing up to remove barriers to using cryptocurrencies in contract payments. The proposals are subject to an ongoing review but according to the chairman of the Committee on....
The Russian Finance Ministry has long taken a determined hardline stance against bitcoin and other digital currencies, deemed by the regulator as ‘surrogates’ of the ruble. The Deputy Minister of Finance in Russia hopes that the draft law calling for the criminalization of bitcoin will be passed to the State Duma – the lower chamber of the Russian Parliament – before the end of the current session in August. A recent report by Russian publication RIA Novosti, has revealed that the Russian Deputy Finance Minister, Alexei Moiseev, hopes that a law is crafted to introduce criminal liabilities....
Russian lawmakers have approved amendments regulating the taxation of transactions with digital assets. The legislation concerns business operations with cryptocurrencies and tokens. In some cases, the burden for Russian companies will be reduced as compared to foreign entities. Russian Duma Passes Law to Tax Crypto Transactions A bill amending the Tax Code of the Russian Federation to allow the authorities in Moscow to tax operations with digital financial assets (DFAs) has been approved on second, third, and final reading in the State Duma, the lower house of Russian parliament. The....
The Russian State Duma will consider a new bill on cryptocurrency taxation on Feb. 17. Russian lawmakers are actively preparing new legislation for taxing cryptocurrencies like Bitcoin (BTC).According to an official announcement by the Russian State Duma, the Duma’s Committee on State Building and Legislation has approved a bill on cryptocurrency taxation on Feb. 15. The new bill represents a set of amendments to the Russian federal tax code.As part of the draft bill, the Russian government officially recognizes cryptocurrencies like Bitcoin as property, aiming to tax profits from crypto....
The bill must still go through two readings in the Duma before going to the Federation Council. Russia's State Duma has approved a new draft bill in its first reading that would require election candidates to disclose their crypto holdings, expenditures and purchases.The draft bill also asks election candidates to indicate a source of income for cryptocurrency purchases and requires crypto declarations not only from the actual candidates, but also their spouses and minor children for the past three years.Introduced in March 2021, the draft bill includes a set of amendments to existing....