{"id":32972,"date":"2024-11-28T21:00:20","date_gmt":"2024-11-28T18:00:20","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=32972"},"modified":"2024-11-28T15:30:36","modified_gmt":"2024-11-28T12:30:36","slug":"russias-upper-house-approves-tax-bill-for-crypto-mining-and-trading","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/russias-upper-house-approves-tax-bill-for-crypto-mining-and-trading\/","title":{"rendered":"Russia&#8217;s Upper House Approves Tax Bill for Crypto Mining and Trading"},"content":{"rendered":"<p><strong>The Federation Council<\/strong>, <strong>Russia&#8217;s<\/strong> upper house of parliament, has approved a bill on taxing <strong>cryptocurrency transactions<\/strong> and <strong>mining<\/strong>.<\/p>\n<p>This bill aims to exempt cryptocurrency transactions from value-added tax (VAT). For the law to take effect, it now only requires the signature of President <strong>Vladimir Putin<\/strong>. The Federation Council stated that the bill was approved on Wednesday, following its passage through the lower house, the State Duma, a day earlier.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-142238 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2024\/11\/rusya.jpg\" alt=\"rusya\" width=\"1200\" height=\"800\" \/><\/p>\n<p>The tax law amendments prepared by the<strong> Russian government<\/strong> define digital currencies as property. Under the proposed changes, cryptocurrency transactions will be exempt from VAT, and income from trading will be subject to the same tax rates as income from securities transactions.<\/p>\n<p>The maximum personal income tax rate will be 15%. This information was previously reported by the Russian news agency Interfax. Once the law comes into effect, cryptocurrency mining infrastructure operators will be required to report client information to tax authorities. Income from mining activities will be taxed based on its market value at the time of receipt.<\/p>\n<p><strong>The bill<\/strong>, having passed both Russia\u2019s lower and upper houses of parliament, now only awaits President <strong>Vladimir Putin\u2019s<\/strong> signature to bring the new tax regime into effect.<\/p>\n<p>The country has recently been working to strengthen regulations on crypto assets, particularly cryptocurrency mining. Earlier this month, the Russian government introduced a limit restricting unregistered individuals from mining <strong>Bitcoin<\/strong> with a monthly power consumption exceeding 6,000 kilowatt-hours.<\/p>\n<p>&nbsp;<\/p>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federation Council, Russia&#8217;s upper house of parliament, has approved a bill on taxing cryptocurrency transactions and mining. This bill aims to exempt cryptocurrency transactions from value-added tax (VAT). For the law to take effect, it now only requires the signature of President Vladimir Putin. The Federation Council stated that the bill was approved on<\/p>\n","protected":false},"author":29,"featured_media":32976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[61,144,9743,9744,7486],"class_list":["post-32972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitcoin","tag-mining","tag-tax-bill","tag-the-federation-council","tag-vladimir-putin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Russia&#039;s Upper House Approves Tax Bill for Crypto Mining and Trading - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/russias-upper-house-approves-tax-bill-for-crypto-mining-and-trading\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russia&#039;s Upper House Approves Tax Bill for Crypto Mining and Trading - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The Federation Council, Russia&#8217;s upper house of parliament, has approved a bill on taxing cryptocurrency transactions and mining. This bill aims to exempt cryptocurrency transactions from value-added tax (VAT). For the law to take effect, it now only requires the signature of President Vladimir Putin. 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