Russia to Set 15% Tax on Crypto Earnings

Russia introduced a draft amendment through the Ministry of Finance on Monday, proposing a 15% tax on crypto earnings as part of a broader move to regulate cryptocurrency mining and transactions. The proposed changes, reported by Interfax, are set to reshape the taxation framework for crypto miners, impacting income, expenses, and related infrastructure. As Russia moves forward with regulatory measures, the Federal Tax Service (FNS) has proposed taxing crypto miners on unrealized gains, meaning miners could face taxes on coins they have yet to sell. The FNS is finalizing plans for a two-stage tax system, which may complicate mining operations in the country.

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