Thailand’s Prime Minister meets with Binance CEO to discuss regulations and digital asset market development plans

Settha Thavisin, the Prime Minister and Minister of Finance of Thailand, met with CEO of Binance, Richard Teng. It is reported that the two sides discussed plans to enhance Thailand's digital asset market development in terms of market support measures, as well as measures to supervise investments in accordance with the law, including providing investment knowledge to locals.

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Russian President Vladimir Putin officially signs digital currency tax law

Russian President Vladimir Putin has signed a law regulating the taxation of digital currencies. According to the law, digital currencies are recognized as property. This also applies to currencies used for foreign trade payments within the experimental legal framework (EPR) in the field of digital innovation. Mining and sales of digital currencies are exempt from value-added tax. Operators of mining infrastructure must report to the tax authorities issuing cryptocurrencies for using their services. Failure to submit such information on time may result in a fine of 40,000 rubles. In terms of personal income tax, digital currencies obtained through mining will be classified as physical income (usually used when goods or services are paid for instead of currency). The value of the income currency will be determined based on market quotes. Such income will be subject to progressive taxation, taking into account tax deductions for mining costs. At the same time, the acquisition, sale or other circulation of digital currencies will be subject to two-stage personal income tax rates (13% for income up to 2.4 million rubles, and 15% for income exceeding this amount). They will be included in the same tax base as securities, bank deposits, and other sources of transaction income. As for corporate income tax, digital currency mining will be subject to the standard tax rate (25% from 2025 onwards).