Russia proposes 15% tax on crypto income from trading and mining: report
Quick Take Newly introduced amendments from the Russian government classify crypto income as property, with a maximum tax rate of 15%.
The Russian government has approved draft amendments to a bill on taxing income and expenditures from crypto transactions and mining, Russian news agency Interfax reported on Monday, citing the country’s Finance Ministry.
Under the proposed legislation, cryptocurrencies will be classified as property for tax purposes, the report said . This means that income derived from mining activities will be taxed based on its market value at the time of receipt. However, miners will be allowed to deduct expenses related to mining operations from their taxable income.
Furthermore, crypto transactions are set to be exempt from value-added tax, where income from trading will be subject to the same tax rates as income from securities transactions, with a maximum personal income tax rate of 15%.
The amendments plan to ensure compliance by requiring mining operators to report information on the individuals using their infrastructure.
Russia’s Finance Ministry reportedly explained that the decision to tax the financial income derived from mining aims to strike a balance between the interests of businesses and the government.
The country first introduced the original bill on cryptocurrency taxation in December 2020 and passed its first reading in 2021, according to Interfax.
Russia's Federal Tax Service proposed last month to tax miners' unrealized gains. Earlier this month, the Russian government set a limit for unregistered individuals to mine bitcoin with a monthly power consumption of no more than 6,000 kilowatt-hours.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hotcoin Research | Fusaka Upgrade Approaching: Analysis and Outlook on Ethereum Long and Short Positions
This article will review Ethereum's recent performance, provide an in-depth analysis of the current bullish and bearish factors facing Ethereum, and look ahead to its prospects and trends for the end of this year, next year, and the medium to long term. The aim is to help ordinary investors clarify uncertainties, grasp trends, and provide some reference to support more rational decision-making during key turning points.

Crypto Market Surges as Bitcoin Rebounds and Privacy Coins Shine
In Brief Bitcoin rebounded over the weekend, testing the $86,000 mark. Privacy-focused altcoins Monero and Zcash showed notable gains. Total market value surged, crossing the $3 trillion threshold again.

Trending news
MoreBitget Daily Digest (Nov 24) | Total Crypto Market Cap Rebounds Above $3 Trillion; Michael Saylor Posts “Won’t Surrender,” Hinting at Further Bitcoin Accumulation; Bloomberg: Bitcoin’s Decline Signals Weak Year-End Performance for Risk Assets, but 2026 May Have Growth Momentum
Following the attack, Port3 Network announced it would migrate its tokens at a 1:1 ratio and burn 162.7 million PORT3 tokens.
