How Russian miners will sell cryptocurrency. The State Duma deputy’s answer

Anatoly Aksakov noted that the government may allow the circulation of digital assets within the country under experimental legal regimes

31.10.2022 - 14:45

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What’s new? According to the new draft law on mining submitted to the lower house of Parliament for consideration, mining of any cryptocurrencies will be allowed in Russia, reported Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market of the Russian Federation. At the same time, the document prohibits the circulation of mined cryptocurrencies within the Russian jurisdiction. The possibility of using this type of assets in the Russian Federation and their taxation will be regulated by additional draft laws, the official told RBC.

News on the RBC website

What else did Aksakov say? The deputy explained that the additional draft law will define the possibility of using cryptocurrencies under experimental legal regimes. In this case, transactions with digital assets in Russian information systems may be allowed. One of the options for such use is payment for parallel imports and other supplies, the official explained. The relevant document will be submitted to the State Duma for consideration soon.

Taxation of digital assets will be based on the principles existing in Russian legislation, but its detailed procedure should be determined by the government.

The document on the regulation of mining, taking into account the position of the Bank of Russia and the Ministry of Finance, was submitted to the State Duma on October 27. It prohibits the use of cryptocurrencies as a means of payment within the country. Earlier, including due to the possibility of legalization of cryptocurrencies as a means of payment, the draft law of the “New People party” was rejected, the deputies noted that this provision contradicts the Constitution.

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