Russia Approves New 15% Crypto Tax Bill
Amid the ongoing digital asset embrace that the BRICS alliance has undergone over the last year, Russia has officially approved a new 15% crypto tax bill. Indeed, the legislation will implement a tax on both cryptocurrency mining and transactions while perceiving the asset as property.
The move comes as another key step in Moscow’s ongoing reveal regarding the asset class. Earlier this year, the country opted to undo its ban on cryptocurrencies in international settlements. Now, it has taken steps to introduce financial obligations on traders and miners. As BRICS continues to de-dollarize, crypto is expected to play an increasing role in its economic activity.
