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Argentina has recently released the rules that will govern the previously approved legislative package affecting the inclusion of cryptocurrency and other undeclared assets in the country’s tax system. The benefits will only be available to taxpayers who hold their assets in registered VASPs. These taxpayers will be exempt from taxes for up to $100,000 held … Read more
The draft law legalizing cryptocurrency mining will be resubmitted to Russian parliament which will postpone its adoption, one of its sponsors announced. Members of the lower house are also working on a separate bill that will introduce liability for those who mint digital coins illegally. Adoption of Russian Crypto Mining Legislation Postponed Again A bill … Read more
Russian lawmakers will consider a draft law on cryptocurrency mining in 2023 despite earlier indications they were going to vote on the proposal in December. The bill is expected to set the rules for the extraction and sale of cryptocurrency in Russia amid sanctions limiting the country’s access to global finances and markets. Russia’s New … Read more
The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted under a special legal regime that’s currently under development. Russia’s Central Bank to Explore Crypto Settlements Amid Financial Sanctions The Central Bank of the Russian … Read more
The monetary authority in Moscow has expressed support for the latest legislative attempt to legalize cryptocurrency mining. However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal regimes in Russia, as an exception. Russia’s Central Bank Suggests Restrictions Be Added to Proposed Crypto Mining Law The … Read more
Russian lawmakers have proposed changes to the current law “On Digital Financial Assets” in order to regulate crypto mining while banning the circulation of cryptocurrencies in the country. The legislation also prohibits the non-targeted advertising of crypto-related products and services. New Attempt to Legalize Cryptocurrency Mining in Russia After months of deliberations, efforts continue in … Read more
Newly proposed legislation aims to permit the minting of any cryptocurrency in Russia, a prominent lawmaker has revealed. While the draft law states that the circulation of the minted coins should take place outside Russian jurisdiction, an upcoming bill provides for their use under “experimental regimes.” Parliament Prepares to Legalize the Mining of Cryptocurrencies in … Read more
Cryptocurrency miners in Kazakhstan are to be required to convert up to three quarters of their income on locally registered exchanges, according to a new bill that’s advancing in the nation’s legislature. Lawmakers also want to make sure crypto companies pay their taxes and fees. Parliament of Kazakhstan Votes on Bill Regulating Activities of Crypto … Read more
With limited access to global finances, Russian businesses have begun settling in cryptocurrency with their partners abroad. Although these are still small-scale payments, government officials have noted their increase, which comes even before authorities have decided how to regulate these transactions. Cross-Border Crypto Settlements on the Rise in Russia as US Dollar and Euro Payments … Read more
The new crypto sanctions imposed by the European Union are likely to spur the development of the country’s digital asset market, according to a Russian lawmaker. Anatoly Aksakov, who chairs the parliamentary Financial Market Committee, believes Russians will manage to bypass the restrictions. Meanwhile, major exchanges have reportedly informed Russian users that trading continues. Russians … Read more
