Russia to treat crypto as a taxable property

posted 3 months ago
Russia changed its draft bill regulating crypto and digital assets. The new draft treats cryptocurrency more neutrally. It suggests that crypto is a kind of property that cannot be accepted as a means of payment.

A digital currency, according to the bill, is a digital set of data, which can be used as a payment method or investment tool and has no central party responsible for it, “except for the operator and (or) the nodes of such systems…" The bill passed the second hearing today, which is the most important one in the Russian lawmaking process. The law is supposed to come into force in January 2021.
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