In Russia, where studies on crypto money transactions have been carried out for a while, it is supported to introduce regulations instead of banning cryptocurrencies completely.
Crypto regulations include taxing cryptocurrencies.
According to the news of local Russian news outlet The Bell, it was stated that if the Russian government taxed cryptocurrency transactions, it could collect cryptocurrencies of up to about 1 trillion rubles ($ 13 billion) each year.
Because, in a study conducted by the Kremlin and government officials in Russia recently, it was revealed that Russian citizens have 16.5 trillion rubles ($ 214 billion) worth of crypto money.
This figure means that Russians own about 12% of the total global crypto assets.
Russia’s Cryptocurrency Tax Potential!
The Bell said in the news that the government has obtained its work on tax revenue for cryptocurrencies.
According to these studies, it seems that the government can generate crypto tax revenues between 146 billion rubles and 1 trillion even in the simplest taxation practice.
Those that will be subject to taxation in the studies include stock markets, brokerage houses and investors.
With the Russian government’s 6% base tax application, it was seen that $ 2.4 billion in tax revenue from crypto platforms and $ 8 billion from crypto investors could be obtained annually.
By including crypto miners in taxation, the Russian government could generate an additional $12 billion in tax revenue per year.
Cryptocurrency Studies in Russia!
Russian President Vladimir Putin stated in his statements about cryptocurrencies that he is not against cryptocurrencies if regulations are made.
Despite Putin’s warm approach, the Central Bank of Russia maintained its strict stance against cryptocurrencies and said that cryptocurrencies should be completely banned in the country. He said it should be banned.
However, in this regard As Putin supports, studies are being carried out on the future of strict regulations and inspections in crypto money transactions.
Tax Income Should Not Be Taken Lightly
In the past months, a law has been passed to solve the infrastructure problems that have been going on for years in the USA with the income to be obtained from crypto money taxes.
It remains unclear what kind of taxation Turkey will impose on cryptocurrencies.