Russia’s cryptocurrency taxation bill could be passed in autumn

The bill on taxing cryptocurrency transactions could be passed in autumn, stated by Anatoly Aksakov, head of the State Duma committee on the financial market, during the St. Petersburg International Economic Forum (SPIEF).

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He noted that the bill was slated for passage in the spring session, but ‘the discussions did not allow this work to be completed’.

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Earlier, Aksakov said that the consideration of the bill is moving slowly due to disputes ‘over substantive categories’. Earlier, media reported that discussions around the document had arisen between the Bank of Russia and the Ministry of Finance.

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Aksakov added that the bill could be complemented by taxation of digital financial assets (DFA).

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Interros CEO Sergey Batekin noted that without changes to the legislation concerning DFA taxation, business will not be able to fully launch asset tokenisation.

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On 17 February, the Russian State Duma adopted the bill on taxing cryptocurrency transactions at first reading.

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