Aksakov proposes codifying miners’ tax treatment in law

The taxation framework for individuals and legal entities engaged in cryptocurrency mining should be explicitly laid out in legislation, Anatoly Aksakov, head of the State Duma Committee on the Financial Market, said. This was reported by Finmarket.

The official stressed that mining is not banned in Russia, but the regulation of the activity is not clearly defined.

“The question related to the taxation of this business needs to be properly enshrined in legislation,” he said.

According to him, this issue arose during the consideration by the central bank of proposals to issue DFAs by market participants and companies, including Transmashholding, Sberbank and Norilsk Nickel.

Earlier, Anatoly Aksakov proposed to clarify the concept of digital currencies enshrined in the DFA law in connection with a possible issue of a digital ruble. He also said that mining should be included in the register as a form of entrepreneurial activity.

In October, with a similar proposal, Irkutsk region governor Igor Kobzev appealed to the government. Nikolai Shulginov stated that the ministry is examining the question of exempting miners from electricity consumption under tariffs for households.

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