Russian Finance Ministry will temporarily abandon a special taxation regime for miners

The Russian Ministry of Finance will not focus on a special tax regime for miners in the first version of the bill regulating their activities. This was stated by Finance Minister Anton Siluanov in an interview with Russia-24.

According to the minister, it is not possible to determine the exact profitability of mining in Russia, as there are varying estimates. However, fiscal goals are not the main priority for lawmakers in preparing the document to legalize cryptocurrency mining.

\”This will be the overall level of taxation that, together with legalization, will replenish the Russian treasury,\” the minister noted.

He added that authorities would revisit detailed tax discussions later, when \”questions of identifying the participants in this business\” arise.

\”I think every kopeck to the budget won’t hurt,\” the head of the Finance Ministry added.

Siluanov expects that the bill on cryptocurrencies will be adopted this year.

\”We must go through several stages: reach a coordinated decision within the government and the Central Bank, and submit the bill to parliament. In the best case, it could be adopted in the spring session. If there are broader debates on this bill, I hope that by the end of the year we would be able to pass this bill,\” he said.

Earlier, the Russian Finance Ministry proposed to set limit for non-qualified investors in cryptocurrencies at 50,000–100,000 rubles.

Earlier, amid discussions on mining regulation, the Ministry of Economic Development of Russia considers it possible to permit cryptocurrency mining in regions with a stable surplus of electricity generation and to introduce acceptable tariffs for its use for companies.

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