The State Duma has officially introduced a draft amendment to the tax code in terms of regulating the turnover of cryptocurrency.

The State Duma has officially introduced a draft amendment to the tax code in terms of regulating the turnover of cryptocurrency.

Offered:

✔️ Recognize digital currency as property.

✔️ Tax authorities get the right to demand from banks statements of individual accounts that were used in connection with transactions with digital currency.

✔️ Residents are required to report to the tax authorities about the turnover of funds and the balance on the crypto wallet if the amount of receipts or debits of digital currency for a calendar year exceeds the amount equivalent to 600 thousand rubles.

✔️ Provides for the establishment of tax liability for unlawful failure to submit (untimely submission) or submission of a report on transactions with digital currency and the balance of the specified digital currency, containing false information.