Russia Legalizes Mining: Over a Thousand Participants Already in the Russian Ministry of Finance's Registry

The next step is to introduce taxation and legalize cryptocurrency transactions

The Ministry of Finance of the Russian Federation has begun creating an official registry of miners. Currently, 1,364 participants have already registered in it. This was announced by the head of the department, Anton Siluanov, at a plenary session of the State Duma.

Indeed, we have started forming a registry of miners, and it already contains 1,364 registered miners
Anton Siluanov, Head of the Ministry of Finance of the Russian Federation

According to Siluanov, the next step is to introduce mining taxation. The Ministry plans to legally enshrine the rules for legalizing transactions with cryptocurrency and crypto assets, which are currently outside the legal framework. This approach will allow controlling the market and accounting for the income of miners for tax purposes.

The Bank of Russia, together with the Ministry of Finance, is preparing legislative proposals on interstate settlements in cryptocurrency, regulation of crypto exchanges, and the operation of crypto exchanges.

Legalization is necessary to make the direction transparent and can be taken into account in taxation
Siluanov

The creation of a registry and the introduction of taxation opens the way for the official integration of cryptocurrency into the country's economy. This will allow the state to control the circulation of digital assets, protect investors, and create new sources of income for the budget.

Read more materials on the topic:

Now on home