Russia: Implemented Law establishing taxation rules for digital currencies through amendments to the Tax Code (No. 418-FZ)

On 1 January 2025, the Law establishing taxation rules for digital currencies through amendments to the Tax Code (No. 418-FZ/Bill no. 1065710-7) enters into force. The Law recognises digital currencies as property, mandates reporting obligations for mining infrastructure operators, and exempts mining and sales activities from value-added tax. Income derived from digital currencies, including mining and transactions, is subject to personal or corporate income tax, with valuation based on market quotations.