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Simple math says Russia could collect up to $13B in crypto tax each year
8.2.2022
The analytic note mentioned that the estimates are purely an overview and based on a basic tax slab of 6%, which would be quite different once regulations are set in place
Law Decoded: Tangible wins, new menaces and the global crypto taxation drive, Feb. 1–7
7.2.2022
Crypto advocates celebrate wins, the Treasury and SEC seek to introduce crypto-unfriendly rules, and governments rush to levy digital asset taxes
Electricity Consumption Spikes in Irkutsk as More Russians Start Mining Cryptocurrency
7.2.2022
Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining. Planes with mining equipment from restricted China continue to land in the region, and cases of hardware theft have also...
Russians Mining Crypto to Pay at Least 15% Tax, Companies – No Less Than 6%, Lawmaker Says
6.2.2022
Private individuals mining cryptocurrency may expect a higher tax burden than businesses involved in the industry, a high-ranking member of the Russian parliament has indicated. While the extraction of digital currencies is yet to be regulated in Russia, authorities lean towards recognizing it...
Russian Government to Present Regulatory Scenarios for Cryptocurrencies Within a Week, Report
6.2.2022
The federal government of Russia should be ready with different regulatory scenarios for the country’s crypto market by the end of next working week, documents from a recent meeting have indicated. The executive power in Moscow favors regulation over the prohibition of cryptocurrencies...
Russian Association of Power Suppliers Proposes Measures to Prevent Home Mining
5.2.2022
The industry organization of Russian energy suppliers has come up with ideas on how to combat cryptocurrency mining in homes, basements and garages. The association believes the phenomenon is the main issue with mining in Russia as authorities prepare to legalize it. Suppliers Move Against Mining...
Demand for Mining Equipment Drops in Russia Amid Fears of Possible Ban, Report
4.2.2022
Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills. Supply...
USD 150M Bet On 'Extending' Bitcoin, Miners Help Texas, Proof-of-Kraken, NFT Investments + More News
3.2.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Read More: USD 150M Bet On 'Extending' Bitcoin, Miners Help Texas, Proof-of-Kraken, NFT Investments + More News
Russian central bank registers nation’s first digital asset manager
3.2.2022
In late 2021, Bank of Russia deputy governor claimed the bank would allow crypto investment only via foreign firms
Major Crypto Exchanges Ready to Work in Russia Under Proposed Rules, Report
3.2.2022
Leading exchanges, polled by the Russian press, have indicated they are not afraid of the upcoming strict crypto regulations. A requirement for coin trading platforms to establish a local office is one of the proposals in a regulatory roadmap drafted by the government in Moscow. Cryptocurrency...
Russians Own $215 Billion in Crypto Suggests Estimate Attributed to Government
2.2.2022
Russians may own more cryptocurrency than previously thought, a new estimate reportedly used by the government has indicated. The quoted figure amounts to over a tenth of the global holdings and may serve as an impetus for the government to regulate Russia’s crypto market rather than outlaw...
Russian Finance Ministry Says Crypto Regulation Compromise Coming ‘Within a Month’
2.2.2022
Moscow has also set itself a new deadline on crypto regulation, claiming that it will broker a consensus on the matter “within the space of a month.”
“Everything is happening actively in the government. I think that some kind of decision will be taken quickly. My expectation is that [the...
Russian region struggles to keep up with Bitcoin mining energy demands
2.2.2022
A local energy distributor is working to recover about $800,000 from illicit cryptocurrency miners in Irkutsk Oblast
MyCryptoMetaMask Ethereum Move, Solana Pay, Bitcoin Savings Plan + More News
1.2.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
__________...
Read More: MyCryptoMetaMask Ethereum Move, Solana Pay, Bitcoin Savings Plan + More News
Russia houses $200B worth of crypto, Kremlin estimates
1.2.2022
According to data from TASS news services, Russians owned nearly 5 trillion rubles worth of cryptocurrencies by December 2021
Law Decoded: Russia flounders, America competes, IMF keeps fuming, Jan. 24–31
31.1.2022
Uncertainty about crypto regulation can engender internal disagreement even within seemingly monolithic governments
Russian Central Bank Still Wants to Ban Bitcoin & Crypto Mining, Despite Backlash
31.1.2022
Russia’s crypto-skeptic Central Bank appears ready to climb down over some aspects of its proposed crypto ban – but still wants to ban mining, despite recent comments on the matter from President Vladimir Putin.
VC.ru reported that the Central Bank has now repeated its calls for a ban...
Crypto Ban in Russia Can Have Opposite Effect, Medvedev Warns as Opposition Mounts Against Proposal
30.1.2022
Dmitry Medvedev, former president and prime minister of Russia, has voiced his concerns over Bank of Russia’s initiative to ban most crypto operations. Prohibition could bring the opposite result, the Russian politician warned, joining a chorus of opinions against the restrictive policy....
Russian Investors to Pass Exams Before Buying Cryptocurrencies, Draft Law Suggests
30.1.2022
A new Russian law may oblige potential crypto investors to take a test before being allowed to purchase digital assets over a certain limit. The authors are also hoping to regulate cryptocurrency mining and cut access to cheap energy for those who mint coins in their homes. Bill to Bring...
Russians Aware of Bitcoin Divided on Proposed Crypto Ban, Poll Finds
30.1.2022
A new survey has indicated that Russians who have heard about cryptocurrency are deeply divided in their opinions on the recently suggested ban on operations with digital assets. A third of the respondents support the central bank’s proposal while an equal number of participants in...