Aksakov: Cryptocurrencies are highly profitable …

Aksakov: Cryptocurrencies are a highly profitable business that is logical to tax

It is necessary to determine the status of cryptocurrencies at the level of legislation, since without this, further regulation of operations with them is impossible. This opinion was expressed by the chairman of the State Duma Committee on the Financial Market Anatoly Aksakov, whose words are quoted by “Parlamentskaya Gazeta”.

According to Aksakov, citizens of the Russian Federation are actively involved in activities with cryptocurrencies. For some of them, this is a highly profitable business..

“The cryptocurrency market already exists and is quite large. Many of our citizens actively participate in it, ”he said..

Aksakov noted that it would be logical to collect taxes from such activities, as well as from any other income. Thus, the law should fix the legal status of digital currencies and “all the necessary aspects”, the deputy believes.

Aksakov: Cryptocurrencies are highly profitable ...

“Therefore, we must, firstly, secure property rights – then the cryptocurrency, as a kind of value, in the event of a person’s death, will pass to his heirs, and secondly, to resolve the issue of taxation,” he explained.

On December 1, the Cabinet of Ministers introduced to the State Duma a bill providing for amendments to the Tax Code, according to which citizens will have to file tax returns for transactions with cryptocurrencies if the total amount of such transactions exceeded 600,000 rubles in a calendar year. Violations are subject to administrative and criminal liability..

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