Share this article
Russia's Crypto Tax Bill Passes First Reading at State Duma
The bill proposes to recognize cryptocurrency as property for purposes of taxation.
Updated Sep 14, 2021, 12:12 p.m. Published Feb 17, 2021, 3:53 p.m.
Russia's State Duma, the country's lower house of government, has approved new legislation for the taxation of cryptocurrency in its first reading, RIA Novosti reported Wednesday.
STORY CONTINUES BELOW
- The bill proposes to recognize cryptocurrency as property for purposes of taxation, which Prime Minister Mikhail Mishustin has previously said would bring holders legal protection and rights in court disputes.
- Crypto users would be required to declare receipts of cryptocurrency exceeding 600,000 rubles ($8,184) per year.
- Failure to declare would result in a fine of 10% of the undeclared amount or a writing off of such currency, whichever is larger.
- A penalty of 40% of the required amount of tax will be applied for non-payment or incomplete payment of tax.
- Ahead of the bill's second reading, the State Duma Committee on Budget and Taxes is questioning the validity of the Federal Tax Service's right to establish the procedure for determining a crypto's market price, as this does not comply with existing provisions of the Tax Code.
- Crypto assets will not be a legal means of payment under the proposed change to the tax law.
More For You
알아야 할 것:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
CFTC Gives No-Action Leeway to Polymarket, Gemini, PredictIt, LedgerX Over Data Rules
The CFTC granted the operators of Polymarket, PredictIt, Gemini and LedgerX permission to skip certain recordkeeping requirements.
알아야 할 것:
- The Commodity Futures Trading Commission granted several prediction-market firms certain regulatory leeway in meeting derivatives rules, suggesting they won't get into enforcement trouble if they do business as intended.
- The no-action letters went to Polymarket, PredictIt, Gemini and LedgerX/MIAX.
Top Stories
