Russian official says bill to give businesses leeway in use of crypto interna...
Finance Ministry official says an upcoming bill may provide local infrastructure a allow businesses to negotiate the use of cryptocurrencies in international trade on their own. A Russian Finance Ministry official has provided new details about a bill on digital currencies, whicht is currently being drafted.The bill provides local infrastructure for settlements and regulation on mining, but will leave many details for businesses to work out on their own, the Finance Ministry's Financial Policy Department head Ivan Chebeskov said Monday at a roundtable hosted by the International Chamber of....
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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 Russian State Duma approved a bill on crypto taxation in early 2021 but the bill has yet to move any further. The Russian Federal Taxation Service (FNS) is actively monitoring the cryptocurrency market to prevent tax evasion, FNS head Daniil Egorov said.Cryptocurrencies can potentially cause “significant erosion” to Russia’s tax base, Egorov argued in a Monday interview with the local publication RBC.But cryptocurrency transactions are still traceable and should be reported, the official said, adding that FNS is ready to deploy automated tracking systems to process big data....
Brad Sherman said the Biden administration should have the ability to tell crypto exchanges not to do "business with Russia-based crypto wallets" amid the situation with Ukraine. Representative Brad Sherman will be introducing a bill in the House aimed at cracking down on U.S. businesses handling crypto transactions for Russian banks and individuals.Speaking at a hybrid markup meeting with the House Financial Services Committee on Thursday, Sherman said he will be introducing a companion bill to Senator Elizabeth Warren’s legislation that would give the Biden administration “explicit....
European bitcoin exchange operator BTC-e has revealed that users in the Russian Federation won’t get access to its website following a ban imposed by a Russian regulator today. In what may be sign of things to come prior to the review of a draft bill that seeks a Bitcoin ban by the Russian legislature , the official twitter account of European bitcoin and alt coins exchange BTC-e has revealed that it won’t be accessible by Russian users. The tweet mentions a lock by Roskomnadzor, the Russian telecom regulator which effectively puts the domain btc-e.com in a blacklist that will not be....
A draft law designed to regulate the mining of digital coins in Russia is also legalizing the use of cryptocurrencies in international settlements. It has been submitted to the Russian parliament after the rejection of an earlier bill which was aiming to allow domestic crypto payments as well. Draft Legislation on Crypto Mining Allows Russian Residents and Businesses to Pay With Crypto Abroad Russian lawmakers will review a new legislative proposal for the legalization of cryptocurrency mining, which has seen significant growth over the past few years. Announcing the filing of the bill on....