The authorities estimated the possible amount of taxes from the Russian crypto market

Potential taxes that the state could collect from the Russian crypto market were estimated at up to 1 trillion rubles a year, The Bell reports, citing government sources.

  • The government received materials that even with a simplified taxation system, the Russian budget can receive about 1 trillion rubles from the cryptocurrency market.
  • Referring to data from Coinmarketcap, unnamed analysts said that Russia’s share in the capitalization of cryptocurrencies could be at least 12%, which is about $214 billion from $1.87 trillion.
  • The document proposes to divide the tax rate into two categories – for exchanges (legal entities) and depositors (individuals).
  • Inside the government apparatus, an estimate of 12% of the global crypto market has sowed doubts. In a statement by the Analytical Center under the Government, the share of Russians was estimated more modestly – up to $174 billion.
  • The center’s specialists believe that the volume of taxes may account for about 780 billion rubles a year. Of these, up to 180 billion rubles can be charged from legal crypto exchanges, and about 606 billion rubles more from income from investments in cryptocurrencies.

In general, the government is more inclined to regulate cryptocurrencies, rather than ban them.

Recall that earlier the Bank of Russia issued a report in which it proposed to introduce a ban on the issuance, circulation and exchange of cryptocurrencies, as well as on the organization of these operations on the territory of Russia. According to agency sources, this is necessary to exclude the possibility of donations to unwanted organizations and foreign media agents.

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