Russia To Tax Cryptocurrencies Miners: Putin Signs 5 Crypto Related Decrees

in #blockchain7 years ago

There were many symptoms for this coming, but even so, it came a bit too hard, in my humble opinion: during last weekend, Kremlin published 5 orders signed by Vladimir Putin, related to crypto-currencies.

The most important one: "miners" will have to declare their activities and a procedure for their taxation should be put in practice. In the same decree there is also a requirement for a new ICO framework. Implementation deadline for this is July 1 2018.

In another decree, this time a bit more ambitious, with a deadline in March next year, Putin asks for a set of measures that will allow Russia to become a single payment platform in the Eurasian Economic Region. The technology for this platform: distributed ledgers.

It's interesting to watch how governments are trying to capture the technology and make it legit only at their level. It's ok for the central bank of Russia to use distributed ledgers, but if you are a miner using distributed ledgers, then you have to pay taxes.

Weather forecast: cold with a chance of freezing coming from the East...


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