Operations with cryptocurrencies in the Russian Federation are not planned …

Operations with cryptocurrencies in the Russian Federation are not planned … post thumbnail image

They want to implement a taxation scheme for new financial instruments similar to that set up for securities.

Russia does not plan to introduce VAT on transactions with digital financial assets (DFA). About this, with reference to the words of the head of the State Duma Committee on Financial Markets Anatoly Aksakov wrote TASS.

  • By the term DFA, authority means property in electronic form, created using cryptographic means. Digital financial assets include classic cryptocurrencies such as bitcoin and Ethereum.
  • According to Anatoly Aksakov, the regulator plans to apply to the CFA practically the same taxation regime for securities. This approach, said the chairman of the State Duma Committee on Financial Markets, does not imply the collection of value added tax when conducting transactions with digital financial assets.
  • Currently, a draft law on the introduction of a tax regime for CFA is being coordinated in the relevant departments. The first review of the document, according to Anatoly Aksakov, will appear in early 2022.
  • Recall that the regulatory authorities of the Russian Federation have been working on the establishment of a legal framework for digital assets since 2017. Nevertheless, many questions remain outside the realm of regulation. For example, in Russia there is still no legal environment for miners. At the same time, the authorities are trying to control members of the crypto community using the available pressure levers.

See also: Aksakov proposes to equate cryptocurrency mining with entrepreneurship

Recall that recently, information appeared on the network that unqualified investors in Russia may be prohibited from buying cryptocurrencies.

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