Legal regulation of cryptocurrencies
In Russia, it is planned to adopt a law regulating the possession and use of cryptocurrencies, as well as the specifics of its tax regulation and judicial protection.
At the moment, the sale and purchase of goods using digital currency is prohibited on the territory of Russia. Buying and selling cryptocurrencies is not prohibited as an investment.
In order to counteract the legalization (laundering) of proceeds from crime, cryptocurrency is recognized as property, in accordance with applicable laws. However, for tax purposes, cryptocurrency transactions are not subject to regulation at the moment.
Therefore, this year it is planned to adopt relevant laws regulating the turnover and taxation of cryptocurrencies. The bill provides for the recognition of cryptocurrencies as property for tax purposes, mandatory declaration of transactions with digital currencies, provision of information by taxpayers to the tax authorities about cryptocurrencies, the procedure for reporting transactions with cryptocurrencies and liability for failure to provide such information.
Thus, the controversial points of taxation of the digital currency will be legally regulated. This legal regulation will provide a clear and transparent status for cryptocurrencies. It is planned to introduce such concepts as digital rights and digital money into the Civil Code. These innovations will attract additional investments to the industry.
Related: Open a llc company in Russia
Get help starting your business.
You may also like
Business manager service in Russia
How service of Business manager work?What is include in service and can we add services on later stages? How to start cooperation? For how long we need business manager?What this service brings to clients is: 2000+ businesses Helping entrepreneurs turn ideas intobusinesses over 2000+ times in Russia. 1500+ consultations Providing access to our independentnetwork of attorneys over…
How to (Gradually) Become a Different Company
A number of recent headline-grabbing announcements of divestments and split-ups by companies such as HP (spinning off its PC and printer businesses), GE (the sale of its appliances business to Electrolux), Bayer (the flotation of its MaterialScience chemicals business), and Royal Philips (its separation into two autonomous companies, Lighting and HealthTech) are putting the spotlight…
Continue Reading How to (Gradually) Become a Different Company
Amazon, Whole Foods, and the Future of the (Old) New Economy
Amazon is buying Whole Foods Market in a deal worth $14 billion, and perhaps the biggest question is what the deal says about the future of an approach to business, branding, and organizational culture that the two iconic companies have come to represent. Some observations that could shed light on this include, first, that with…
Continue Reading Amazon, Whole Foods, and the Future of the (Old) New Economy
Disney Buys Marvel: Designing 3D Brands
Many comic fans around the world, my eldest son John included, will bemoan today’s announcement that the Disney entertainment zaibatsu will swallow up Marvel Comics and its 5,000 characters for $4 billion. Years ago I, too, spent my hard-earned shoveling money on Spiderman, The Hulk, Fantastic Four, and especially Iron Man. (I’ve seen all their…
Growing for Broke
Look, you’ve got to grow. It’s what our economy is all about. Hey, it’s what our country is all about! Certainly, it’s what drives me. My father, Constantine Anaptyxi, came to America from Greece because he saw big opportunities here. He worked hard, took a few risks, and realized his dreams. I came…
Can Science Be a Business?: Lessons from Biotech
In 1976, Genentech, the first biotechnology company, was founded by a young venture capitalist and a university professor to exploit recombinant DNA technology. Thirty years and more than $300 billion in investments later, only a handful of biotech firms have matched Genentech’s success or even shown a profit. No avalanche of new drugs has hit…
Continue Reading Can Science Be a Business?: Lessons from Biotech
Merger Model in M&A Investment Banking
2000+ businesses Helping entrepreneurs turn ideas intobusinesses over 2000+ times in Russia. 1500+ consultations Providing access to our independentnetwork of attorneys over 1500 times. 90+ liquidations Helping companies to close down operations in the smooth way Merger Model in M&A Investment Banking The mergers and acquisitions (M&A) group in investment banking provides advisory services on either sell-side or buy-side transactions. Sell-Side…
Template Checklist for Legal Due Diligence
2000+ businesses Helping entrepreneurs turn ideas intobusinesses over 2000+ times in Russia. 1500+ consultations Providing access to our independentnetwork of attorneys over 1500 times. 90+ liquidations Helping companies to close down operations in the smooth way This checklist sets out documents and information to be provided for the pruposes of legal review of the target…
Merger Model in M&A Investment Banking
2000+ businesses Helping entrepreneurs turn ideas intobusinesses over 2000+ times in Russia. 1500+ consultations Providing access to our independentnetwork of attorneys over 1500 times. 90+ liquidations Helping companies to close down operations in the smooth way Merger Model in M&A Investment Banking The mergers and acquisitions (M&A) group in investment banking provides advisory services on either sell-side or buy-side transactions. Sell-Side…
Related searches:
- Cryptocurrency regulations around the world
- Cryptocurrency regulations around the world 2022
- Cryptocurrency regulation pdf
- Cryptocurrency regulation benefits
- Sec cryptocurrency regulations
- Is it legal to create a cryptocurrency
- Сlosed joint-stock company
- Cjsc company
- Russian LLC
- LLC company Liquidation in Russia
Services of Russian lawyers in Russia and UAE
- The main thing is to be prepared
- Clear action in a critical situation
- New opportunities
- Crisis Management from the Valen company
- FAQs
- Get help starting your business.
- You may also like
- Services of Russian lawyers in Russia and UAE
- Approximating Acting Managers to Interim Managers
- Responsibilities of Acting Managers vs. Interim Managers
- Related Careers