Express

Russian President Signs First Bill On Digital Assets Into Law, Categorizes Crypto As Taxable Property

Emily Mason

Summary: Russian President Vladimir Putin signed a new bill on digital assets into law on Friday, July 31, local outlets report. The bill permits the operation of crypto and blockchain companies, but prohibits the digital currencies from being used as payment. Digital securities listed on a blockchain must also be registered with the Bank of Russia. ...

Russian President Vladimir Putin signed a new bill on digital assets into law on Friday, July 31, local outlets report.

The bill permits the operation of crypto and blockchain companies, but prohibits the digital currencies from being used as payment. Digital securities listed on a blockchain must also be registered with the Bank of Russia.

The bill also offers the first legal definition of crypto assets and defines them as taxable properties rather than as currencies.

By Emily Mason

  • ​The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? 6 days ago
  • Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules 10 days ago
  • BTC Weekly Outlook: The Oversold Bounce—A Bottom or a Shorting Opportunity? 13 days ago
  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 17 days ago
  • Google Steps Into Blockchain: A New Front in the “Ledger Wars” 19 days ago
  • You need to login to comment.