Russia proposes a 15% tax on cryptocurrency income and to revise regulations for miners and transactions

ChainCatcher news, Russia has proposed a draft amendment through the Ministry of Finance, suggesting a 15% tax on cryptocurrency income. The proposed changes will reshape the tax framework for crypto miners, affecting income, expenses, and related infrastructure.

A key part of the new legislation is the proposal to impose a 15% personal income tax on cryptocurrency income. The income from mining tokens will be taxed at market value upon receipt, and miners can deduct operating expenses to ensure a balanced tax calculation. Cryptocurrencies will be classified as property for tax purposes, eliminating the value-added tax (VAT) on crypto transactions.