Russian Finance Ministry clarifies limits on cryptocurrency purchases

The Russian Finance Ministry proposes setting a limit for non-qualified investors in cryptocurrencies at 50,000–100,000 rubles. writes RIA Novosti, citing the head of the ministry Anton Siluanov.

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The division of cryptocurrency investors into qualified and unqualified is provided by the approved market regulation concept.

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\”We are talking about a minimum amount of resources that unqualified investors could use. The figures could vary—from 50,000 to 100,000 in equivalent. Our concept is as such,\” said Siluanov, adding that his ministry would like to make crypto trading attractive to investors.

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The day before, Deputy Finance Minister Alexei Moiseev proposed considering stricter restrictions – up to 50,000 rubles.

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Anton Siluanov also spoke in favour of legalising mining by assigning it an economic activity code and introducing a tax.

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\”What’s the point of this? I don’t understand why all this should be forbidden,\” he explained.

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According to the minister, taxes should be levied on the difference between fiat funds invested into cryptocurrency and those withdrawn from it.

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Earlier this week, the Finance Ministry proposed a tax on the revaluation of cryptocurrency for companies. The scheme draws on a bill on taxation that was approved in the first reading.

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Tax revenues from legalising the cryptocurrency market were estimated by the ministry at 10–15 billion rubles, with the bulk of payments expected to come from miners.

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