The Russian Federation approved the draft law on taxes on digital assets

Representatives of the Duma committee dealing with financial market issues supported the draft law on taxation of cryptocurrencies

The bill was submitted for consideration on 12/01/2020. On December 23, 2020, it was recommended for adoption in the 1st reading. As follows from the conclusion, this document will edit the I and II parts of the Tax Code of the Russian Federation.

The decision was made by officials, relying on the wide distribution of digital assets, the constant emergence of new areas of their application, often illegal.

Reasonable taxation of cryptocurrencies will allow Russian tax authorities to control the circulation of digital currencies. And tax revenues will replenish the state treasury.