The new bill replaces the previous bill, which introduced a one-year tax and customs amnesty to Russian crypto miners. The original proposal was withdrawn because the tax cut would have resulted in a loss of state budget.
Revised crypto mining law submitted to the Russian Parliament without amnesty for miners
Russian lawmakers have resubmitted the law to the House of Representatives, which was designed to regulate the mining of cryptocurrencies.New draft replaces bill It has been submitted At the end of April, which is currently being withdrawn.
The revised version lacks some provisions that would reduce the tax burden on miners at the expense of the federal budget, the agent said. On the plus side for those who extract digital currencies, miners no longer have to check their clients’ sources of funding under the new rules.
Earlier bills envisioned the establishment of special cash registers for entities involved in cryptocurrency mining and the temporary exemption of taxes and tariffs. For a year, miners did not have to go through customs clearance for imported hardware or file a tax return for income received from crypto mining prior to the enforcement of the law.
The law was also trying to free them from the obligation to pay VAT (bat) Transactions related to digital currency mining that took place before the law came into force. While these benefits have disappeared, the rest of the draft is similar to the original bill, reported by cryptocurrency media outlets Forklog and RBC Crypto.
There is a general consensus among Moscow officials that cryptocurrency mining, where Russia is one of the world’s leaders, should be recognized and regulated as a business activity. The latest bill defines this process as issuing or generating digital currencies in the Russian Federation using information infrastructure and equipment operating in the country.
Russian authorities are also working to establish a comprehensive legal framework for cryptocurrencies. The new bill on “About Digital Currencies” Presentation By the Treasury in February. Its main purpose is to close the regulatory gap that remains after the adoption of the Digital Financial Assets Act, which came into force in January last year.
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