Russia: Cryptocurrency holders and miners will be regulated

According to local Russian media reports, Russian cryptocurrency holders and miners will be regulated by the Internal Revenue Code.

Anatoly Aksakov, chairman of the Russian State Duma’s Financial Markets Committee, said via Izvestiya that lawmakers hope to pass a bill on digital financial assets, or cryptocurrencies, during the Duma’s autumn session.

Aksakov said the document will not include a separate tax scheme for cryptocurrency owners, meaning that the mining and circulation of cryptocurrencies will be regulated under the provisions of Russia’s existing tax code.