Russia Still To Ban Crypto? A Bill To Ban Digital Assets Has Passed First Rea...
The State Duma, Russia’s lower house of parliament, has submitted legislation making it illegal to pay with cryptocurrency. The bill’s sponsors want crypto platforms to be tasked with preventing transactions that could promote digital asset payments. Russia May Still Ban Crypto A law proposed a week ago in the State Duma, Russia’s lower house of […]
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Russia has approved a draft bill that exempts cryptocurrency issuers from Value Added Tax (VAT). This move is to further strengthen its pro-crypto stance through its legislation. The lower house of Russian legislature, The State Duma has passed this bill. Reportedly, some other services related to the crypto exchanges shall also fall under exemption. The […]
Russia is making a headway in finalizing its crypto bill, with the Ministry of Finance seeking the assistance of the public in improving the regulation of digital assets by middle of next month. A prior notice the ministry calls “On Digital Currency,” will expound on a public consultation to: 1 – Set regulatory rules for […]
Russia is turning to blockchain technology in an effort to counteract the economic isolation brought on by the sanctions imposed due to its invasion of Ukraine. The State Duma, the lower house of the Russian legislature, has passed a bill on the taxation of digital assets that exempts their sale from value-added tax (VAT) in the Russian Federation. Some other services of digital asset exchanges will also be exempted, according to state-run news service RIA Novosti. In addition, the bill established income tax rates of 13% for Russian exchanges on the first 5 million rubles (currently about....
Russia’s finance ministry shared the amended and finalized crypto bill with the government, which recommends using cryptocurrencies as legal tender. The Ministry of Finance (MinFin) of Russia finalized a draft bill named “On Digital Currency” and has sent it to the Russian government for approval to be passed as law. The draft of the federal law clarifies regulations related to the trading and mining of cryptocurrencies. On Apr. 8, Russia’s finance ministry announced the amendment and finalization of an impending crypto bill, which provides regulatory clarity related to the circulation,....
Russia’s central bank wants to limit the amount of cryptos and digital rights acquired by non-professional investors. The central bank of Russia proposed to set limits on annual cryptocurrency investments by non-professional investors.The Bank of Russia suggested that unqualified investors in Russia should not be allowed to invest more than 600,000 Russian rubles ($7,800) in digital assets per year.The authority laid out the new proposal in an explanatory note referring to Russia’s newly passed crypto law, “On Digital Financial Assets,” or DFA. The official statement stipulates that the....