Russian government passes bill to tax crypto assets, with only President Putin's signature remaining

The Russian Federal Council has approved a federal law introducing a new tax on cryptocurrency transactions. The Federal Council, the upper house of the Russian parliament, approved a bill on the 27th to recognize digital currencies as assets.
The Russian government has approved a bill that would impose a personal income tax of 13-15% on cryptocurrency transactions. The bill also exempts Russian cryptocurrency miners from paying value-added tax (VAT) on mined coins.
The bill passed a third reading in the State Duma, the lower house of parliament, before being approved by the Federal Commission and is currently being drafted by Vladimir Putin.
The bill is currently awaiting President Putin's signature. If the president signs it, it will come into effect as soon as the bill is officially published. According to the bill, digital currencies will be allowed to trade for foreign currency within Russia's experimental legal framework for crypto assets.
For tax administration purposes, Russian mining infrastructure operators are not allowed to use crypto assets as a means of payment in trade agreements.
Companies must report information related to the provision of mining services to local authorities. Any violations are punishable by a fine of 40,000 rubles (approximately $550).
Services provided by infrastructural operators are not subject to tax in the Russian Federation.