Putin signs law recognizing digital assets as property, exempting crypto mining and sales from VAT

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Putin signs law recognizing digital assets as property, exempting crypto mining and sales from VAT

Russian President Vladimir Putin has signed a new law that officially recognizes digital currencies as a form of property in foreign trade settlements under an experimental legal regime (ELR). Under the regulations, crypto mining and sales are not subject to value-added tax (VAT), TASS reported Friday. Crypto transactions facilitated within the ELR are also tax-free, the report noted. Yet, mining facility operators are required to report to the …