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

The previous version of the mining bill was withdrawn. The new bill no longer provides for an amnesty, exempting miners from customs clearance of equipment and taxes.

As it became known from the materials, published on the portal Legislative support systems (SOZD) State Duma, 23 May 2022 of the year the bill “On mining in the Russian Federation”, submitted by deputies of the “New People” faction, sent for consideration to the Financial Market Committee.

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

Now, the authors of the project assure, citizens of the Russian Federation hold more 12 million cryptocurrency wallets, and the amount of funds in wallets is about 10 TRLN rubles. Besides, the country ranks third in the world in terms of mining capacity. Lack of industry regulation leads to, that all transactions with digital currencies, and their release is “carried out in a gray zone”:

“Under such conditions, citizens are often faced with cases of fraud., not having the tools to protect their rights and interests - despite the fact that, that the issuance and generation of digital financial assets is partly regulated by law from 2020 of the Year “On Digital Financial Assets”, digital currency and on amendments to certain legislative acts of the Russian Federation"".

Previous version of the bill “On mining in the Russian Federation”, which was submitted to the State Duma in April 2022 of the year, withdrawn. The new bill no longer provides for an amnesty, exempting miners from customs clearance of equipment and payment of taxes for a year.

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