Russia expects $13 billion in taxes from cryptocurrency market, estimate suggests.
Authorities in Moscow expect to collect more than $13 billion as tax payments from the Russian crypto market, according to a government document quoted by media. The estimate comes as Russian institutions are holding discussions on the future of cryptocurrencies in the country.While ministries and regulators are debating over Russia’s future crypto policy, a document leaked to the press has provided details about the conversations.
The analysis provides various assessments of the size of Russia’s crypto market, suggesting that the country’s share of the global crypto economy could be 12% or more. At the same time, the report notes that this estimate, produced by the analytical center under the federal government, has been doubted by some officials.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spanish Treasury Postpones the Definition of Crypto Tax Declaration Models Until Next Year – Taxes Bitcoin NewsThe Spanish treasury has announced it will hold off till the next year to formulate the specifics of how cryptocurrency-related taxes will have to be declared.
Read more »
US government seizes $3.6 billion in bitcoin tied to 2016 hack of crypto exchange BitfinexThe US Department of Justice said Tuesday that it has seized $3.6 billion worth of bitcoin tied to the 2016 hack of crypto exchange Bitfinex.
Read more »
Kazakhstan Mulls Fivefold Increase of Electricity Tax on Crypto Mining – Mining Bitcoin NewsAuthorities in Kazakhstan are discussing regulations for the crypto space that may lead to a serious increase in the tax burden on miners.
Read more »
Kazakhstan floats 500% tax increase on Bitcoin miners, leading some to eye relocationKazakhstan floats 500% tax increase on Bitcoin miners, leading some to eye relocation by the_postman_
Read more »
No precedent: IRS court settlement doesn't clarify crypto staking taxesIndustry experts explain what the outcome of the Jarretts' court hearing means for the crypto industry, following confusion among U.S. crypto holders believing that the IRS would not tax staked crypto rewards.
Read more »