Crypto farms will be brought to light

rabiakhatun

The bill on mining and selling cryptocurrencies was introduced to the State Duma by a group of deputies from different factions on November 18. Amendments to the law on digital financial assets introduce the definitions of "digital currency mining" and "mining pool". Requirements for the activities of individuals and legal entities mining digital currency, including mining pool participants, will be established by the Russian government in agreement with the Central Bank, and control and supervision over compliance with the requirements will be carried out by the federal executive body authorized by the Russian government.

The document submitted leaves miners with two ways to sell the mined cryptocurrency:

through foreign systems without using Russian infrastructure and without observing the norms of the law on currency regulation;
through a platform that will be content writing service created in the Russian Federation within the framework of the experimental legal regime (ELR).
In both cases, the transactions will have to be notified to the Federal Tax Service. The bill also introduces a ban on advertising (or offering in any other form) digital currencies, but makes an exception for digital currency mining.



This year, the country will mine bitcoins worth between 80 and 90 billion rubles

Such data is provided by FG ​​Finam analyst Leonid Delitsyn. Provided that the bitcoin price is not lower than today's level, the maximum estimate of deductions to the budget will be 7 billion rubles per year, he told RSpectr.

As the co-author of the amendments, Deputy Chairman of the State Duma Committee on Information Policy Anton Gorelkin, noted in his Telegram channel, the bill was developed taking into account the positions of the Ministry of Finance and the Central Bank.

The state receives tax revenues, and market participants receive legal guarantees, he noted.

Anton Gorelkin, State Duma:

- We expect that with the adoption of the law, law enforcement practice will begin to form, which will determine the direction of further comprehensive regulation of issues related to the issuance and circulation of digital currencies. But it is already clear that the main vectors should be the development of blockchain technologies and the protection of the rights of citizens who use them.

The Russian Ministry of Finance took part in the preparation of the bill, the press service of the department told RSpectr. The document will allow legal mining, and it will be possible to declare the income received from such activity and pay taxes on it. "It is assumed that the requirements for participants in mining activities, as well as the definition of the control and supervisory body, will be regulated at the level of the act of the Russian government, which will be prepared after the adoption of the bill," the press service of the Ministry of Finance noted.

The department added that the Ministry of Finance is already developing the EPR.

“An important fact is the possibility of using cryptocurrency, including in cross-border settlements,” the Ministry of Finance stated.