Digital Assets Law in Russia

For 3 months already we have been living in a country where cryptocurrencies and blockchain have finally appeared in the legal field.

💵 This is a great opportunity to develop, earn, pay taxes and sleep in peace.

Of course, the adopted law on the CFA requires clarification, there are a lot of things that are not clear to either lawyers or even ordinary people, but you need to start somewhere.

🔎 As we receive explanations, we will be analyzing them here, but for now we will go through the theses that seem clear.

✔️What is a digital currency in terms of Russian legislation?

This is a digital code that is used as a means of payment and savings, as well as as an investment.

You can own a digital currency. But it is forbidden for those who hold public office.

✔️What conditions must be met for the possession and storage of digital currency for both individuals and legal entities?

You need to declare digital currencies if the amount of debits / charges exceeds 600,000 rubles during the year. This will help you to defend your rights (for example, in court). But at the moment, the draft law and the rules for declaring digital currencies in Russia have not been adopted.

✔️Is it possible to own shares of a company that deals with digital currencies, as well as to buy and sell shares and options of such companies?

Yes, such activities should be carried out in accordance with laws that have not yet been adopted.

✔️Is it possible to sell, buy and transfer digital currencies to third parties in Russia?

Yes, if the digital currency is not used to pay for goods, works and services.

✔️Is it possible to mine digital currency in Russia?

Yes, such activities must be carried out in accordance with laws that have not yet been adopted.

✔️Is it possible to disseminate information on the ownership, sale, purchase, and creation of digital currency?

You can not spread the information that digital currency can be used to pay for goods, works and services. There is no ban on the dissemination of other information.

✔️Are ownership and other transactions with digital currencies taxed on the territory of the Russian Federation?

The digital currency will be taxed as property, that is, the income from its sale will be applied to the rate of 13–15%.

✔️What are you definitely not allowed to do

It is prohibited to use cryptocurrencies to pay for goods, works and services, as well as to disseminate information about the possibility of payments in digital currency.

🗣In the near future, we will still talk about the CFA, taxes and other related topics, we will hold a live broadcast, so write your questions in the comments — we will discuss.