What is new in the draft law on mining

During the last month the law base for mining in Russia held some noticeable changins. Earlier it included proposals about the register of miners and mining operators. In addition there was an item which allowed one year tax amnesty for the participants of the list.

Immediately in the last version of the document these two items were deleted. According to the insider information such a decision was taken because the amnesty will lead to the budget losses. As a result there was no need for a special list after denying the idea of tax amnesty.

Thus, according to the version that was published on the 20th of May the miners should be registered as self-employment or individual entrepreneurs. The registration process will be the same as for the fields that are not in blockchain.

As it was decided that the tax amnesty would bring risks for the federal budget the government proposed the grace period of the customs clearance for the mining equipment and tax payments for the profit got before 8th March 2022.

Earlier the experts predicted that 2022 would be the most important for cryptocurrency in Russia. Many discussions about the future of digital assets were held and the regulator demanded total prohibition.

Anatoly Aksakov said that the law base for cryptocurrency will be held till the end of the summer Parlament’s session.