Tag: Russia
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Russia’s Crypto Exchange Plan: A Gateway for Elite Investors
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Russia is stepping into the regulated crypto space with plans to launch a state-run cryptocurrency exchange tailored for “super-qualified investors.” The initiative, revealed by Finance Minister Anton Siluanov, aims to legalise digital asset transactions under the country’s experimental legal regime (ELR). A Regulated Exchange for Elite Investors The proposed crypto exchange will cater exclusively to…
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Russia Moves to Classify Crypto as Property in Penal Cases
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Russia’s Supreme Court is taking significant steps to classify cryptocurrency as property in penal cases, a move aimed at enhancing law enforcement’s ability to track, freeze, and confiscate illicit digital assets. This initiative marks another step in Russia’s ongoing efforts to integrate cryptocurrency into its legal framework. Crypto’s Role in Criminal Cases Chairperson Irina Podnosova…
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Russia Imposes Six-Year Crypto Mining Ban in Key Regions
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Russia has announced a six-year ban on cryptocurrency mining in ten regions, alongside seasonal restrictions in other areas, to mitigate energy consumption issues and align with new crypto mining laws. 10 Regions Face Complete Mining Ban Starting January 1, 2025, cryptocurrency mining will be prohibited in ten Russian regions, including Dagestan, Ingushetia, Kabardino-Balkaria, and Chechnya.…
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Russia Approves Crypto Tax Bill: Miners to Pay 13-15% on Revenues
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Russian lawmakers have passed a groundbreaking crypto tax bill, introducing levies of 13% to 15% on Bitcoin miners’ revenues. The legislation also formally recognizes cryptocurrency as “property” for the first time, providing legal clarity for the nation’s burgeoning crypto sector. Tax Structure for Miners Under the new law, miners earning up to 2.4 million rubles…