Russia is going to tax Bitcoin!

The price of Bitcoin has been soaring, setting new highs in succession, attracting the attention of many investors.

However, today Russia announced a piece of news that will have a negative impact on Bitcoin investment - taxes will be levied.

Russia’s Central Bank is working on legislation to legalize Bitcoin, which is expected to be submitted to the State Duma for consideration next month, according to Bloomberg.

If the bill is officially passed and takes effect, Bitcoin will become a legal digital commodity in Russia, and certain taxes will be paid during the transaction process.

Olga Skorobogatova, deputy chairman of the Russian Central Bank, said at a parliamentary meeting on the 25th: "Virtual currencies may cause instability in the financial market, so they need to be regulated. If someone works in this industry, then they need to pay certain taxes. It is necessary for the central bank to bring Bitcoin activities under supervision."