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    Acquisitions of crypto assets will remain tax-free

    The sale of acquired crypto assets will remain tax-free after one year, even if used for staking/lending. As expected, the government didn’t make any changes to the announcements made by the Federal Council in March. The government has instead clarified in a tax consultation that the sale of acquired crypto assets will remain tax-free after one year, even if used for staking/lending.

    The Finance Ministry has no intention of taxing profits from cryptocurrency transactions, according to a report from local daily Kommersant. The Ministry issued a clarification today following an announcement from the Russian government in December last year that profits from cryptocurrency transactions would be taxed as “income received from the sale of securities.” The clarification, in the form of a draft law, defines virtual currencies as “a digital representation of value that is neither issued by a central bank nor a public authority, is not attached to a legally established currency and does not possess the legal status of a financial instrument.”

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