A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines.
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Russian crypto miners will have to report their income and provide tax authorities with detailed information about their digital assets, including wallet addresses, to avoid being prosecuted by the state. That’s according to draft legislation that’s currently undergoing revision in Moscow.
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A bill meant to regulate Russia’s growing coin minting industry was initially submitted to parliament in November. However, its adoption was later postponed for this
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