The Russian State Duma (lower house of the Federal Assembly of the Russian Federation) unanimously approved the draft law on June 28, which includes the decision to exempt cryptocurrency issuers from value added tax.
Draft approved by the State Duma, cryptocurrency issuers and all organizations involved in the operational process provides exemption from value added tax. Some experts consider this to be Russia’s first incentive to the cryptocurrency market.
Although Russia is often on the agenda with anti-crypto moves, it has also made important decisions regarding crypto in the last quarter. One of the largest banks in the country Issuing a cryptocurrency trading license to Sberbank and the country’s blockchain platform Granting a crypto-asset swap license to Atomyze Russia It was interpreted by experts as a sign that Russia’s attitude towards cryptos has changed in the face of the liquidity crisis.
Because of the Ukraine-Russia war SWIFT It is stated that being excluded from the system pushes Russia to look for transfer channels. Denis Maturov, Minister of Industry and Trade of Russia, announced that he expects cryptocurrencies to be legalized within this year. at the beginning of June defense company of the Russian Federation Rostec Groupto replace the SWIFT network a new blockchain-based platform announced its development.
This draft law, approved by the State Duma, was submitted to the Federation Council (upper house). If the Federation Council approves the law, the head of state is required to enter into force. To be submitted to Vladimir Putin’s approval.