CandleFocus Putin signs law recognizing digital assets as property, exempting crypto mining and sales from VAT
2024-11-29
Author: Content Editor
Russian President Vladimir Putin has signed a new law recognizing digital currencies as property in foreign trade settlements. The law creates an experimental legal regime (ELR) where crypto mining and sales are exempt from value-added tax (VAT). Transactions within the ELR are also tax-free, but mining facility operators must report to tax authorities or face fines. Income from mining crypto will be taxed as "income in kind" at market value, with deductions allowed for expenses. Acquiring, selling, or trading crypto will follow a two-tier personal tax structure. Corporate entities will pay the standard corporate tax rate of 25% on mining profits starting in 2025. The law restricts access to preferential tax regimes and applies to registered entities only. The law will go into effect upon publication. This follows a previous law that regulated crypto mining in August.
Related News
Andrew Tate’s crypto crashes over 70% this year NEAR Q3 Market Cap Dive: Exploring The 27% Plummet And Key Financial Metrics Bullish Insights Show DOGS Poised for 658% Jump Algorand Skyrockets 27% as Bullish Golden Cross Sparks Rally Ronin Wallet v2.1.9 Brings Key Updates and Bug Fixes Is Ethereum set for a new record high as ETH imitates Bitcoin's path? Could Hyperliquid’s HYPE token hit $10 after its airdrop? XRP Overtakes BNB, Becomes 5th Largest Crypto Amid Spike to New 3-Year Peak Craig Wright COPA appeal rejected by UK court as meritless XRP Surges by Double Digits to New 3-Year High, As ETF Speculation Grows Bitcoin Outperforms Crude Oil, Bloomberg's Mike McGlone Says – Here’s What’s Happening Top Analysts Reveal Ethereum Price Prediction! "It Will Reach These Levels By The Time Donald Trump Takes Office!" Cybersecurity is ‘more important during a period of growth,’ founder says Bitcoin needs to reclaim this level so BTC can rally above $100k Can BNB price hit $1,100 as staking yield hits 12%? Will December Surpass November’s Record-Breaking Bitcoin Price Increase? 35 Million XRP Change Unknown Hands as XRP Price Targets $2 How High Can Dogecoin Price Go in December? Why These Altcoins Are Trending Today — November 29 ? BlackRock Announced Their Partnership With This Altcoin Listed on Binance! Ripple to unlock 1 billion XRP on December 1 – Should investors be worried? XRP: This Price Signal Is Crucial ? Ripple Vs SEC: US SEC to Drop Appeal, Ex-CFTC and XRP Lawyers Say Solana Long Liquidations Top $64 Million Amid Price Decline I Watched Justin Sun Eat the World's Most Expensive Banana. I Don't Get It. What to Expect from Bitcoin (BTC) in December 2024: Analysts Weigh In Bitcoin Exchange OKX Releases 25th Proof of Reserve! Which Coins Have Increased? Here Are the Details Digital Asset Platform Matrixport Draws Attention to Pro-Crypto Candidates in Trump's Cabinet! Here Are the Details Can BitTensor (TAO) Break Multiple Resistances and Surge to $700? HyperLiquid’s Native Token Debuts with $4.2B Fully Diluted Value Shiba Inu Developer Reacts to Disclosure Suggesting Potential Chainlink CCIP Integration for Shibarium Game on: The UAE is betting big on blockchain and winning | Opinion Intense $BULLY Accumulation: Two Wallets Splurge $2.42M in 48 Hours Ethereum Foundation Bets Big on zkVMs Amid Market Concerns Algorand (ALGO) 225% Rally Now Targets $1.73 and $2.37 1.1 Billion DOGE in One Hour, What's Going On? XRP on Brink of $100 Billion Milestone for First Time Since 2018 Solana circulating supply decreases as failed Pump.fun launches lead to frozen SOL tokens Pump.fun monthly revenue hits new all-time high with $82.8m Over 8,620 Solana Wallets Connected to $30 Million DEXX Hack Amid Ongoing Recovery Efforts IOTA Technology Drives TWIN’s Virtual Watch Tower for Maritime Innovation Ethereum: the optimistic price prediction for ETH in December 2024 Hedera (HBAR) 250% Bull Run Continues, Eyes $0.20 Target with Flag Pattern Will Cardano Price Double As TVL Hits ATH? XRP Surges 14%, Nears $1.70 Level Last Seen in April 2021 Putin signs law recognizing digital assets as property, exempting crypto mining and sales from VAT Bitcoin Set to Have Its Fourth Strongest Month Since October 2021 5 Key Indicators Show Bitcoin Still Far from Cycle Top: Details Crypto drives growth of multi-tiered money laundering, Eurasian AML regulator warns Can 76 Trillion SHIB Save Shiba Inu From Crash? Crypto Pundit Sees Chainlink Price Rising To $100 Soon Algorand’s Price Rallies as Open Interest Hits Record $81 Million Daily Market Review: BTC, ETH, ALGO, ELD, FET Deribit to Migrate All Activities to Its Dubai-Licensed Entity Is Solana Price Ready to Break the 37-Month Accumulation Cycle? - CryptoNewsZ Trump’s pro-crypto leadership could fuel ‘defi renaissance’ in US, analysts say Nxone Teams Up with AIAChain to Revolutionize Global Web3 Payments Flare Updates FTSO Rewards System and Decentralized KYC Solutions When Will the Altcoin Rally Begin? Analyst Reveals Conditions and Expectations for the Rally! Nigeria restarts $35M money laundering case against Binance What to Expect from Ethereum (ETH) in December 2024: Analysts Weigh In Top Trader Says Breakout Loading for Dogecoin and Shiba Inu Rival, Updates Outlook on Bitcoin and Jupiter Cardano Short-Term Holders Add 3B+ ADA in a Month: What Does History Tell Us? VeChain Lays the Foundations for $26T Sustainability and $16T Tokenisation Markets Shiba Inu Lead Distances Himself from This Memecoin Amid Its Partnership with SHIB Cobo Integrates with Zircuit, Boosting Digital Asset Security XRP Decouples From Bitcoin, Hits 6-Year High Top Analyst Says Solana Ready for New ATH Ethereum ETFs Inflow Streak Sets Up ETH for New Lifetime Highs, Traders Say Hong Kong Giant Company Disposed of This Altcoin and Purchased Bitcoin (BTC) Instead! Crypto losses hit second-lowest level of $71 million in November 2024 Ether to breach $4K before Trump’s inauguration: Analyst New Dogecoin (DOGE) Price Target Approved by Veteran Trader Peter Brandt 'Rich Dad Poor Dad' Author: ‘I Save Bitcoin’ Bitcoin to $100,000? CNBC Confirms Analysts Split Over Psychological Level Ethereum Nears Key Levels, Will $3,692 Break Spark a Bullish Rally? Is $10 Possible for XRP Price as Ripple Dominance Hits 5-Year High There's an $11 Billion Options Quake in Bitcoin and Ethereum Today! What Does It Signal for BTC and ETH Prices? Shiba Inu Burn Rate Spikes 2,296% as Single Transaction Burns 1,003,266,585 SHIB Chainlink Unveils Privacy Suite to Boost Data Confidentiality in Cross-Chain Transactions US, China, and UK lead in scam and dead crypto project launches: report Brian Armstrong, Elon Musk Slam Biden Administration Over ‘Mass Debanking’ Ethereum (ETH) $4,000 Surge to Erase Almost $1 Billion Fantom Surges Past $1, What’s Next for FTM Price? Bitcoin price retains 8% gains as attention switches to Ethereum comeback Analyst Kevin Svenson Outlines Two Scenarios That Could Trigger Bitcoin Rally to $100,000 – Here’s His Outlook Bitcoin whales 'took advantage' of $90K BTC price dip, scooping up $1.5B Justin Sun eats $6.2m dollar Cattelan banana art work in Hong Kong event Bithumb Lists AI Crypto, Virtual Protocol ($VIRTUAL) Bitcoin Just Flashed the ‘Very First Signal’ To Kick Off the Parabolic Phase, Says Analyst – Here’s His Outlook MetaHub Finance Partners with Bixos to Revolutionize Real Estate with Blockchain How Much Will Bitcoin Price Be in 2026? Analyst Reveals Prediction on Live Stream Cardano (ADA) Price Prediction For November 29 Shiba Inu Lead Aspires to Take SHIB to Top 5, Reveals Timeline for This Feat Bitcoin Surges Back to $96K – Analyst Predicts $109K Next with Key Levels Suggest Breakout How Many Dollars Will Bitcoin Price Soar to by New Year’s Eve? Here is the Expert’s Prediction Justin Sun to purchase 100K bananas from $6.2M art fruits stall Satoshi Nakamoto's Genesis Wallet With 1.1M BTC Partially Breached Best crypto coins to stake for 12%+ returns ahead of the altcoin season Bitcoin Exchange Net Outflow Spikes 270% to 1,270 BTC as BTC Reclaims $96K VeChain Mainnet Sees Heightened Activity With Over 2.5 Million Clauses Breaking Year-Long Record Indonesia’s crypto transactions rose over 350% in a year Binance Futures Announces It Has Delisted 3 Altcoins! SOL Sniper Launches SniperX Memecoin Trading Bot on X XRP Nearing Key Resistance Level HyperLiquid's Native Token Debuts at Fully Diluted $4.2B Market Cap Cardano (ADA) Large Transactions Decline By $19 Billion Amid Weak Network Activity AI Altcoins Set for $600B Market Cap: Top Tokens to Watch by 2025 Solana (SOL) Momentum Builds: $250 Could Just Be The Beginning XRP Nike Swoosh Pattern Suggests Price Surge to $6.4 or $13 Weekly Analysis Of The Cryptocurrency Market: Five Altcoins That Continue Rally Nichome expands ecosystem with Supernova Shards partnership XRP Outperforms Crypto Majors as Japan Yen Strength Signals Bitcoin Trouble SEI Eyes $1.06 After Resistance Breakout With Strong Bullish Momentum Pantera Capital Holding $280M Profits In ONDO Crypto Is Altcoin Season on the Way? When Will It Come and How Will It Look? Analysts Share Their Predictions $10.95 Billion in Bitcoin and Ethereum Options Expiring Today: Market Impact Shiba Inu Shares Big News for Upcoming Christmas Ethereum Price Eyes $3,911 Amid Increased Whale Deposits and Institutional Demand Solana price prediction: here’s why SOL could surge to $550 Solana ID Unveils SOLID Token Sale with 150% APY Sui Network Fixes Staking Bug, Refunds $4,747 to Affected Wallets Why Is The Worldcoin Price Up 20% Today, Rally To Continue? Bitcoin Price Poised for Another Rise: The Next Move Awaits Interoperability in the Metaverse: What Does the Future of Gaming Look Like? Pro-Crypto Lawyer John Deaton Calls For Probe Into Operation Chokepoint 2.0 Breaking Down JASMY’s $1 Potential: Numbers, Market Caps, and Possibilities Champions Tactics: Grimoria Chronicles Unveiled by Ubisoft Inspired by Texas, Swiss Canton Embraces Bitcoin Mining to Optimize Energy Is TRX at a local top? What the Sharpe ratio tells about its future How High Can Shiba Inu Price Climb If Bitcoin Hits $100,000? FET Rallies 40%, Breaking Nine-Month Lull With New Bullish Momentum Shiba Inu Gains 39% in November: What’s Next for SHIB in December? XRP Whales Move 18M Coins As Analyst Charts Price Rally To $33 Taiwan fast-tracks stricter crypto AML rules to take effect Nov. 30 World Network Pilots World ID Passport Credential Across 4 Nations Memecoin momentum fades as DeFi tokens soar, price data suggests Hong Kong central bank to subsidize companies issuing tokenized bonds Tornado Cash (TORN ) Surges +700% Yet 96% Below ATH—What Lies Ahead? Altcoins to stay choppy until Bitcoin hits ‘exuberant move’ — Analyst Yield Chasers Propel Ethena’s USDE to $4.12B Market Cap in the Bull Market Frenzy XRP Lawsuit: Legal Expert Shuts Down Claims of Fast-Tracking Final Ruling, Says ‘Not SEC vs Ripple’ Solana whales are still accumulating $SOL Taiwan fast-tracks stricter crypto AML rules to take effect Nov. 30 Bitcoin Price Prediction Today: Breakout or Breakdown? XRP’s Road to $99: Insights from Historical Performance and Market Projections Ethereum ETFs blitz Bitcoin ETFs over last 4 trading days amid ETH rally Digital asset ownership legal in China: Shanghai judge Altcoins to stay choppy until Bitcoin hits ‘exuberant move’ — Analyst XRP Price Prediction For November 29 $ENS Surges 45% as Crypto Market Rebounds, $BTC Faces $75M Liquidation 3 Reasons Bitcoin Price Can Surge to $100K This Weekend! Japan to Dissolve ‘Web3 Project’ Team, Form New Crypto Unit Cardano (ADA) Price Prediction for November 29 Crypto user convinces AI bot Freysa to transfer $47K prize pool Shiba Inu (SHIB) Trading Hits Crisis Point, Solana (SOL) in Fragile Position, Dogecoin (DOGE) Fights Back Shiba Inu Lead Shytoshi Kusama Teases Airdrop & Partnerships INJ Whale Sells Big: $7.39M Offloaded, Triggers 7.7% Price Drop Coinbase to halt USDC earn program on MiCA compliant regions Dragon Ball, One Piece studio’s Web3 game, Sun is top Trump crypto holder: Asia Express Hong Kong to Waive Tax on Crypto Gains for Sophisticated Investors