Russia’s State Duma Passes First Reading of Cryptocurrency Tax Reform Bill
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Russia's State Duma passed a cryptocurrency tax reform bill in its first reading, establishing the most comprehensive crypto tax framework to date for individuals, corporates, brokers and trading platforms. The bill lets investors offset gains and losses within the same tax period and requires licensed exchanges to withhold personal income tax on crypto buys and sells, increasing regulatory clarity and adoption prospects while adding compliance and operational burden for exchanges and traders.
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- Russia’s State Duma approved a cryptocurrency tax reform bill in its first reading.
- Investors can offset crypto gains and losses within the same tax period, reducing gross tax liability.
- Licensed exchanges must withhold personal income tax directly when users buy and sell crypto.
Russia’s State Duma has passed a government-proposed cryptocurrency tax reform bill in its first reading, establishing the most comprehensive framework yet for taxing digital asset transactions in the country.
The legislation moves Russia toward a structured crypto tax system with clear rules for individual investors, corporate entities, brokers, and trading platforms.
How Crypto Gains Will Be Taxed
The bill calculates the taxable base for cryptocurrency transactions as the positive difference between income and costs. Investors can offset gains and losses from digital currencies a…
Read The Full Article Russia’s State Duma Passes First Reading of Cryptocurrency Tax Reform Bill On Coin Edition.
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