Cointime

Cointime

Download App
iOS & Android
Home / Policy

Russian tax authorities will start collecting taxes in digital rubles from 2025

The Russian tax authorities will start using digital rubles for taxation from 2025, and banks will be given the power to prevent "suspicious" CBDC transactions. According to Klerk, the latest tax law amendment signed by Russian President Putin at the end of last year states that the Russian tax authorities will "switch to using digital rubles for taxation from 2025". The media added that the Ministry of Finance hopes to "start paying pensions and other social benefits with digital rubles". As part of the expanded pilot program, government agencies promise to actively adopt digital rubles in 2024.

Russia CBDC CBDCs
Comments

All Comments

Recommended for you

  • It is reported that Trump may meet with Ripple CEO and other crypto industry representatives to discuss the formulation of US crypto policy

     Ripple CEO Brad Garlinghouse recently gave an interview to Fox News and talked about his feelings regarding Trump's victory in the 24th US presidential election. There are reports that Brad Garlinghouse and other representatives from the cryptocurrency industry may meet with Trump to discuss participating in the formulation of US cryptocurrency policies. Fox News asked Brad Garlinghouse about this matter, and although it has not been confirmed, his response seemed to suggest that he would be open to it. Brad Garlinghouse said, "I won't comment too much on the details here. Throughout the entire election cycle, we have been actively supporting cryptocurrencies and innovation, and we will continue to work with more friendly government officials to get rid of current regulations through law enforcement."

  • EU regulators set out guidelines on restrictions for cryptocurrency providers

    the European Banking Authority (EBA) is the European regulatory agency responsible for addressing weaknesses in the European banking industry. It has issued two sets of guidelines, including specific guidelines for payment service providers (PSPs) and cryptocurrency asset service providers (CASPs). On November 14th, EBA released guidelines that specify the measures that PSPs and CASPs must take when transferring funds or cryptocurrency to comply with EU and national restrictive measures. According to EBA, these guidelines ensure the implementation of EU and national sanctions. EBA believes that weaknesses in control, internal policies, and procedures may pose legal and reputational risks to financial institutions (including PSPs and CASPs). In addition, weak links in these areas for financial institutions may also "weaken" the effectiveness of the EU's restrictive measures system. The European Banking Authority emphasizes that this may lead to rule evasion, thereby affecting the stability of the EU's financial ecosystem. According to ECA, these guidelines will apply from December 30, 2025.

  • Cardano founder confirms he will work with Trump administration on crypto legislation

     Cardano founder Charles Hoskinson has confirmed plans to collaborate with the US government under the leadership of President Trump to help formulate cryptocurrency legislation. The goal is to create a clear regulatory framework for the cryptocurrency industry, which has faced uncertainty and regulatory challenges for years. Hoskinson announced these plans in a recent speech and stated that developing positive policies regarding cryptocurrency requires support from both the Democratic and Republican parties. He stated that his company, Input Output Global (IOG), will establish a separate policy department for cryptocurrency regulation. This office will focus on developing a legislative framework that incorporates the provisions of the 21st Century Financial Innovation and Technology Act (FIT21) and the Responsible Financial Innovation Act (RFIA). He added, "I will work with legislators and the government to push for a bipartisan bill to be passed."

  • UK House of Lords backs Digital Asset Property Bill

    members of the UK House of Lords expressed support for the country's digital asset property bill during a second reading session on Wednesday. The House of Lords Committee generally believes that the bill will provide more clarity on how the legal system treats cryptocurrencies and may mark another step forward for the UK in paving the way for domestic cryptocurrency use. The bill was drafted by the independent statutory body, the Law Commission, and was launched in the UK in September. The bill adds a new "property" category within the scope of property to help resolve legal disputes involving cryptocurrencies. The bill will not only help judges in criminal proceedings involving cryptocurrency theft due to fraud or hacking, but will also help divide marital property.

  • UAE to introduce legal framework for DAOs

    The United Arab Emirates is focusing on introducing a legal framework for decentralized autonomous organizations (DAOs) in the Ras Al Khaimah Digital Asset Oasis (RAK DAO), a free economic zone dedicated to digital assets. Law firm NeosLegal and RAK DAO announced that the new system will be launched and discussed at the DAO Legal Clinic on October 25th. Irina Heaver, a partner at NeosLegal, said that the framework is expected to clarify how DAOs can remain legally compliant, and she believes this will have a significant impact on decentralized governance in the UAE and the wider Web3 ecosystem. The announcement emphasizes that the legal structure will clarify tax obligations and benefits. It will also establish property rights for on-chain and off-chain assets and provide legal protection for the founders, members, and contributors of the DAO from personal liability. The legal framework will also enable DAOs to enter into legally binding contracts and establish guidelines for resolving internal and external disputes.

  • Deutsche Börse Clearstream: D7 platform has issued over 10 billion euros in digital bonds

    Deutsche Börse's Clearstream announced that its digital securities platform D7 has issued over 10 billion euros (11 billion US dollars) in digital bonds. Currently, D7 is mainly used for two types of issuance, namely large digital bonds and structured products. From a technical perspective, the D7 platform uses DAML smart contracts, and the latest version of DAML supports the Canton blockchain. Previously, Clearstream also participated in a practical experiment using the French wholesale central bank digital currency CBDC for settlement.

  • The European Central Bank cut interest rates by another 25 basis points, in line with expectations

    The European Central Bank has lowered the deposit facility rate from 3.5% to 3.25%, in line with market expectations. At the same time, the main refinancing rate and the marginal lending rate were adjusted from 3.65% and 3.9% to 3.4% and 3.65%, respectively.

  • Ireland urgently drafts cryptocurrency law ahead of EU anti-money laundering rules

    Irish Finance Minister Paschal Donohoe has informed the Cabinet that emergency legislation will be drafted to update cryptocurrency regulations before EU laws take effect on December 30. No details were disclosed regarding the new cryptocurrency legislation or its specific effective date. The EU's Anti-Money Laundering and Counter-Terrorism Financing Directive will take effect in December, enhancing the power of financial intelligence units to suspend transactions.

  • Russia to impose cryptocurrency restrictions, exempting miners and central bank projects

    Russia will implement cryptocurrency restrictions, exempting miners and central bank projects. Starting from September 1st, Russia will impose strict restrictions on the circulation of cryptocurrencies such as Bitcoin, only allowing the issuance of digital financial assets within its jurisdiction. Anatoly Aksakov, Chairman of the Financial Market Committee of the State Duma, led this initiative. This is part of a wider government effort to control the cryptocurrency ecosystem in the face of escalating geopolitical tensions. Aksakov stated that the upcoming legislation aims to restrict non-Russian cryptocurrency transactions to strengthen the dominance of the ruble. Meanwhile, recent reports indicate that Russian entities have used cryptocurrencies, particularly Tether's USDT, to purchase key components for military technology.

  • Russia’s Central Bank and Rosfinmonitoring unveil pilot of fiat-to-crypto tracking system

    According to reports, since 2023, Russia has been trying to track cryptocurrency transactions and their sources. The Russian Central Bank and the Federal Financial Monitoring Service (Rosfinmonitoring) revealed that there is currently a system that allows private banks to track the connection between fiat-based transactions and cryptocurrency business.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company