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The Russian authorities are discussing various options for regulating cryptocurrencies – from a complete ban on their ownership and purchase to the legalization of bitcoin exchanges. This was stated by the head of the State Duma Committee on the Financial Market Anatoly Aksakov, writes “Interfax”.
“There are very tough approaches that completely prohibit the acquisition, ownership of cryptocurrencies. There is an approach that there should be appropriate crypto exchangers, exchanges should be legalized in order for everything to be transparent, understandable to regulatory authorities, and the same FTS would be easier to tax these operations, ”he said.
According to Aksakov, it is necessary to complete all discussions related to the definition and taxation of cryptocurrencies in the spring session of 2022, “so that we can enter the next tax period with full understanding of how all this should be regulated”.
He also reiterated the need to recognize mining as a type of entrepreneurship and provide miners with electricity at a special price for industrial consumers:
“I think that we will come to this, I think that we need to legalize it, including from the point of view of taxation and from the point of view of electricity consumption as a business institution, and not as individuals who receive electricity at preferential rates.”
Recall that in February, the State Duma of the Russian Federation adopted a draft law on taxation of transactions with cryptocurrencies in the first reading, despite criticism. Since then, the document has been finalized.
In November, the State Duma announced the preparation of a draft law on mining regulation and created a working group for discussion. Representatives of several ministries supported the idea of equating cryptocurrency mining with entrepreneurship.
The Prosecutor General’s Office of the Russian Federation has prepared a draft law on the recognition of crypto assets as property for production within the framework of the Criminal Code, and has also developed rules for their confiscation.
In December, the Federation Council announced the formation of a working group to develop further regulation of cryptocurrencies. The Ministry of Finance of the Russian Federation expressed the hope that the issue of regulating the industry will be resolved next year.
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