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Teimuraz Vashakmadze, associate professor at the IBS-Moscow, commented on the review of the draft bill for "World news"

17.04.2018

Crypto Bill Review Regulates Crypto-Fiat Transactions Over $9.6K, Report Says

Forklog reported Friday the Russian government has reportedly prepared a review of the draft bill “On Digital Financial Assets,” detailing terms of the exchange of cryptocurrency for fiat for more than 600,000 rubles (approximately $9,600) or its foreign equivalent being subjected to mandatory currency exchange regulation.

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According to Teimuraz Vashakmadze, an associate professor at the Russian Presidential Academy of National Economy and Public Administration, a 13 percent personal income tax could be imposed on crypto traders, the report said.

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