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Sanctions, Disagreements Hamper Regulation of Crypto Mining in Russia, Experts Say

Sanctions, Disagreements Hamper Regulation of Crypto Mining in Russia, Experts SayThe changing geopolitical and economic environment, as well as persisting differences between responsible government institutions, are hindering the advance of legislation tailored to regulate cryptocurrency mining in Russia. According to a report quoting industry watchers, these factors are halting the advance of the necessary legislation. Two Draft Laws on Mining Await Approval by the Russian […]

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Russian State Duma Adopts Law Banning Payments With Digital Financial Assets

Russian State Duma Adopts Law Banning Payments With Digital Financial AssetsThe lower house of Russian parliament has adopted a law prohibiting the use of digital financial assets in payments. To implement the restriction, exchange operators have been obliged to reject transactions which make it possible to employ these assets as a means of payment. Russian Parliament Approves Legislation Preventing Digital Financial Asset Payments The majority […]

Korean won becomes world’s most traded fiat for crypto traders: Report

Russian Parliament Adopts Tax Rules for Digital Assets

Russian Parliament Adopts Tax Rules for Digital AssetsRussian lawmakers have approved amendments regulating the taxation of transactions with digital assets. The legislation concerns business operations with cryptocurrencies and tokens. In some cases, the burden for Russian companies will be reduced as compared to foreign entities. Russian Duma Passes Law to Tax Crypto Transactions A bill amending the Tax Code of the Russian […]

Korean won becomes world’s most traded fiat for crypto traders: Report

Russian Parliament to Review Bill Prohibiting Crypto Payments

Russian Parliament to Review Bill Prohibiting Crypto PaymentsLegislation making it illegal to pay with cryptocurrencies has been filed with the State Duma, the lower house of Russia’s parliament. The sponsors of the bill want to task crypto platforms to prevent transactions that could facilitate payments with digital assets. Draft Law Banning Use of Cryptocurrency for Payments Submitted to Russian Parliament Russian lawmakers […]

Korean won becomes world’s most traded fiat for crypto traders: Report

Tough Crypto Law Expected in Russia Despite Central Bank’s Softer Stance on Crypto Payments

Tough Crypto Law Expected in Russia Despite Central Bank’s Softer Stance on Crypto PaymentsThe bill “On Digital Currency,” meant to comprehensively regulate crypto transactions in Russia, will be a “tough” law, according to the head of the State Duma Financial Market Committee. The legislation is yet to be finalized and will not be reviewed by lawmakers in the near future, Anatoly Aksakov revealed in an interview, despite Bank […]

Korean won becomes world’s most traded fiat for crypto traders: Report

No Tax Amnesty for Russian Crypto Miners as Lawmakers Withdraw Proposal

No Tax Amnesty for Russian Crypto Miners as Lawmakers Withdraw ProposalA new draft law has replaced an earlier bill introducing a one-year tax and customs amnesty for cryptocurrency miners in Russia. The initial proposal has been withdrawn on the grounds that the tax break would have resulted in losses for the state budget. Revised Crypto Mining Legislation Submitted to Russian Parliament Without Amnesty for Miners […]

Korean won becomes world’s most traded fiat for crypto traders: Report

Draft Law About NFTs Submitted to Russian Parliament

Draft Law About NFTs Submitted to Russian ParliamentLawmakers have filed a bill with the State Duma aimed at introducing the term NFTs to Russian legislation. The authors of the draft say the rights of those who own non-fungible tokens need to be protected as Russians are currently dealing with NFTs at their own risk. Russian Deputies Propose Amendments Legally Defining NFTs Members […]

Korean won becomes world’s most traded fiat for crypto traders: Report

Trade Minister Expects Russia to Legalize Cryptocurrency

Trade Minister Expects Russia to Legalize CryptocurrencyCryptocurrencies will be eventually legalized, a member of the Russian government has opined. The question is when this will happen, Trade Minister Denis Manturov stated as new crypto-related legislation advanced in the State Duma this week. Crypto Legalization Is Current Trend, Russian Minister Acknowledges Cryptocurrency can be legalized in the Russian Federation, according to a […]

Korean won becomes world’s most traded fiat for crypto traders: Report

Bill Regulating Crypto Mining Submitted to Russian Parliament

Bill Regulating Crypto Mining Submitted to Russian ParliamentA draft law tailored to regulate cryptocurrency mining has been filed with the lower house of Russian parliament, the State Duma. The legislation provides a legal definition for the extraction of digital currencies and envisages the establishment of a register for miners. Russian Lawmakers to Review Legislation Enforcing Rules for Crypto Mining Sector The draft […]

Korean won becomes world’s most traded fiat for crypto traders: Report

Illegal Use of Cryptocurrency Largely a Myth, Russian Lawmaker Says

Illegal Use of Cryptocurrency Largely a Myth, Russian Lawmaker SaysOnly a small share of cryptocurrency transactions have illicit purposes and the use of digital coins in illegal activities is for the most part a myth, a high-ranking Russian lawmaker has recently stated. Andrey Lugovoy, who is one of the deputies working on new crypto regulations, also said Russia can become a global leader in […]

Korean won becomes world’s most traded fiat for crypto traders: Report