Exchangers of the law: experts estimated the new mining bill in the Russian Federation
If the Russian mining bill is adopted in the current version, this will entail the creation of the Black Black Market in the country and the withdrawal of the extracted assets abroad. For FORKLOG, interviewed experts said this.
You cannot sell – you will have to report on income
It is the potential ban on activities in the Russian Federation of cryptocurrency exchanges and exchangers, regardless of their jurisdiction, experts consider it the main threat.
The co -founder of the Encry Foundation Roman Nekrasov suggests that the authorities, among other things, will tighten control over bank transfer. At the slightest suspicion of buying cryptocurrencies, the bank will freeze the account and demand an economic justification of transactions.
“Separately“ amusement ”the requirement for miners to report to the Federal Tax Service, declare income from the sale of what is essentially not selling in Russia. That is, it is impossible to sell, but you will please pay the tax, ”Nekrasov said.
He recalled that with the adoption of the law, the usual scheme, when miners sold bitcoins to the exchangers, and those to individuals will be outlawed.
The expert also raises questions for the declaration of coins – it is not spelled out in detail.
“If the miner sold bitcoins on a foreign platform, whether it should go to Fiat? Does this involve the creation of a separate legal entity abroad and, as a result, double reporting to foreign and Russian tax authorities?” – Nekrasov listed.
Nevertheless, it retains optimism regarding the further work of the crypto market in the Russian Federation, since the laws of any country cannot “paralyze it”.
CEO Indefibank Sergey Mendeleev called the provisions of the document “prohibition of profession”. The law has not yet limits P2P-leggings, but any public activity for the exchange and turnover of cryptocurrencies will be prohibited.
“I made an exchanger? I fell under the law. Offered software for the exchanger? Start lubricating. Wrote in a resume that you can work with a crypt? Bend a little. Published an announcement in the section from ? Catch a bottle, ”the businessman described the prospects.
Regarding the mining of the situation, he also criticized. The bill instructs the government to finalize the requirements for miners, in which they can enter “anything”. It is difficult to sell the extracted cryptocurrencies.
“Exchangers will ban, and it will be possible to realize the paved on foreign exchanges with incomprehensible as if they received back in the Russian Federation. Either under a transaction with the established experimental legal regime (EPR), but for this it will be necessary to write an experimental federal law, ”Mendeleev explained.
Threat of monopolization of the exchange market
The managing partner of the Grad Law Board, Maria Agravskaya, believes that the bill was late for at least four years and absolutely does not take into account the experience of developed countries in regulating cryptocurrency.
“Why do you need to actually display in the black market exchange operations? How this property differs from another? In fact, a large number of transactions are withdrawn abroad, from which the Crypto earnings state’s tax could be charged, ”the lawyer said.
She also noticed that the document does not spell out the “promised” legalization of cross -border operations to pay for the cryptocurrency of goods and services of Russian companies.
Agrane warned about a potential monopoly for the exchange of cryptocurrencies in the framework of EPR.
“In principle, all money is possible from mining abroad. There are concerns that one player within the framework of the not created EPR cannot cope with the volume of transactions, especially in the conditions of sanctions. Even working with Defi will not be simple, ”she added.
According to a lawyer, mining taxation does not require the development of certain norms and legislators could do explanations regarding the OKVED for miners and the procedure for confirming operations on a foreign exchange.
Significantly, the mining bill does not change anything for the market players, says GMT Legal managing partner Andrey Tugarin. According to him, the document displays prohibitions that have repeatedly been spent in native form, for example, in the methodological recommendations of the Central Bank.
He is convinced that the miners will not have difficulties with tax reporting and they will still realize cryptocurrencies on foreign exchanges. Now you need to wait for clear spelled out rules.
“The bill only hinted that the accounting of the mainly coins will be required, the forms of documents were not presented, therefore it is difficult to evaluate the amount of data that needs to be indicated during the report,” the lawyer noted.
Since the bill allows mining to individuals, Tugarin emphasized the need to prescribe personal income tax administration.
“So far, the document is damp and there are still many amendments, at least the introduction of the EPR, which will make it possible to create a Russian exchanger who can change the steamed bitcoin for rubles,” he said.
The lawyer suggested that with the intensive work of the government, such a project would be launched in a couple of years.
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