In autumn, the State Duma will consider the taxation of cryptocurrencies

Russia may include income from cryptocurrency transactions in the taxable category this fall.

The head of the State Duma Committee on State Construction and Legislation Pavel Krasheninnikov said that the State Duma is considering the possibility of discussing taxation of cryptocurrencies at the autumn session.

The official is confident that the government plans to receive its revenues into the budget as soon as possible.

According to Krasheninnikov, the recognition of cryptocurrencyproperty must be supported by the possibility of transferring rights to it in the event of the death of the owner or division of property. However, the Central Bank does not support this initiative. The draft law on taxation of cryptocurrency transactions, which the Duma plans to return to in the fall, adopted in the first reading, has been repeatedly criticized for incorrect wording and ambiguous norms.

In addition, according to the Law on Digital Financial Assets, transactions with cryptoassets are prohibited in the country and cannot be taxed prior to legalization.

Krasheninnikov also noted that the deputiesintend to introduce the concept of cryptocurrency into the Civil Code, and are discussing a possible mechanism for using cryptoassets by agreement of the parties to pay for goods and services.

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