Duma may consider cryptocurrency taxation in autumn session

The lower house of the Russian parliament may consider a bill on taxing cryptocurrencies in the autumn session, said Pavel Krasheninnikov, head of the State Duma committee on state-building and legislation. This was reported by «Финмаркет».

“They have a firm objective to tax, but we are not giving the go-ahead yet. I hope that in the autumn session we will make progress on this issue,” he said.

The official noted that he supports recognising cryptocurrencies as property for inheritance or division upon divorce, but the Bank of Russia does not support such a position.

“The economy pushes for legal problems to be resolved alongside citizens’ problems. If a person has cryptocurrency and dies, should the heirs receive it? Undoubtedly, they should,” he said.

Under the law “On Digital Financial Assets”, cryptocurrencies are recognised as property.

In February, the State Duma adopted in the first reading a bill on taxation of crypto-asset operations. Earlier, the Council under the President of Russia on codification and improvement of civil legislation criticised the document due to terminology problems.

Krasheninnikov noted, that for introducing taxation of cryptocurrencies it is necessary to legalise transactions with them. Later he said that deputies are discussing a mechanism for applying digital assets in paying for goods and services by agreement of the parties, and stressed that cryptocurrency should be inserted into the Civil Code’s section on objects.

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