The State Duma will consider a new version of the bill on mining

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The previous version of the mining bill has been withdrawn. The new bill no longer provides for an amnesty that exempts miners from customs clearance of equipment and paying taxes.

As it became known from the materials, published On May 23, 2022, the draft law “On Mining in the Russian Federation”, submitted by the deputies of the “New People” faction, was sent for consideration to the Financial Market Committee on the portal of the Legislative Support System (SOZD) of the State Duma.

In the explanatory note to the draft, the authors promise that the adoption of the law will help regulate relations related to “the features of the issue and generation of digital currency.”

Now, the authors of the project assure, the citizens of the Russian Federation hold more than 12 million cryptocurrency wallets, and the amount of funds in the wallets is about 10 trillion rubles. In addition, the country ranks third in the world in terms of “mining capacity”. The lack of regulation of the industry leads to the fact that all transactions with digital currencies, as well as their release, are “carried out in a gray area”:

“In such conditions, citizens often face cases of fraud, without having the tools to protect their rights and interests – despite the fact that the issuance and generation of digital financial assets is partly regulated by the 2020 law “On Digital Financial Assets, Digital Currency and Amendments into separate legislative acts of the Russian Federation”.

The previous version of the bill “On Mining in the Russian Federation”, which was submitted to the State Duma in April 2022, has been withdrawn. The new bill no longer provides for an amnesty that exempts miners from customs clearance of equipment and paying taxes for a year.

On May 18, 2022, deputies of the State Duma voted in the first reading for the draft amendments to the Tax Code, which define the specifics of taxing transactions with digital financial assets with VAT, as well as introducing a tax on corporate profits and income of individuals from the sale of digital assets.

Source: Bits

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