Продам фулл мембера, 252 поста,  100 мерита за 20000₽

Почему же не поработав? обращались и к другим, некоторые самоликвидировались, некоторые начинали тупить или появлялось недоверие(передача аккаунта, оплата), у третьих дороже или не продумана реферальная система например(приведи друга)
мне достаточно этого чтобы судить об адекватности
конечно, возможно, есть еще крутые продавцы, говорю лишь про нашу ситуацию

Абсолютно согласен, знакомый брал фул, продавец сопровождал по всем возникшим вопросам

Сейчас это действительно самый актуальный вопрос,  то что фирма куплена за Криптовалюту нет ничего удивительного

 

В любом случае на любой закон так или иначе найдется лазейка

Забанили три аккаунта Jr. Member у друзей,  без объяснений,  все трое писали только в ветке news,  вижу в этом самое главное совпадение

а что если выводить прибыль на кредитную карту и таким образом оплачивать заранее взятый под это дело кредит? Будет ли это облагаться %?

Обычный передел рынка, баунти это прибыльное мероприятие, таким образом системой мерита убирают конкуренцию.

за две кампании ни одного забаненого поста пока

Benefits

Everyone benefits from the use of crypto currency, with the exception of large financial and state institutions, in which they take profit and the ability to influence financial flows. Bitcoin is useful as a financial instrument and as an asset that inevitably becomes more expensive. Using Bitcoin as a payment tool, agents receive additional profit due to the absence of intermediaries. Crypto currency can pay for goods and services, but to date, not many enterprises accept Bitcoin and other digital currencies. The Bitcoin Course If you use Bitcoin as an asset, you can at least avoid the impact of inflation on savings. However, the approach to the purchase of Bitcoin is responsible: crypto currency is very volatile. You should analyze the situation before buying a coin. The main recommendation: not to buy Bitcoin during the period of short-term growth and on psychological marks. Another plus is already indicated independence of Bitcoin. Therefore, the crypto-currency savings will not be blocked and withdrawn from your account, as it can be when using the services of classical banks.

The Harm of Bitcoin

This crypto currency uses blocking technology and multi-level encryption. Technological features allow the owner of a coin to make purchases on the Internet anonymously.

The virtue of Bitcoin is sometimes used by scammers and users of the dark side of the network - darknet. With the advent of the first crypto currency, security services began to sound an alarm - it became impossible to track the acts of buying weapons and drugs on the Internet. And for some time the trade in banned goods did go on with impunity.

However, over time, the intelligence services learned to analyze the blocking transactions, find the addresses of sending and transfer Bitcoins. Deanonimization algorithm is extremely difficult and complicated, however, if necessary, federal services are able to find the ends of transactions.

In 2015, to two life sentences was sentenced to the creator of the online store "Silk Road", engaged in the sale of drugs. The network was accepted only by the Bitcoins. The goods were sold for $ 200 million.

Ross Ulbricht, the owner of the Silk Road, is not the only one who was exposed in dark machinations with crypto currency. Every year the number of businessmen of Darknet increases. There are new ways to preserve anonymity when buying goods and paying for services in Darknet. At the moment, the Monero coin is popular. Transactions with this crypto currency are more difficult to decipher, which is the reason for the widespread use of the token in Darknet.
Bitcoin was used to launder money and pay for goods, the distribution and acquisition of which is prosecuted by law. Now the services have the ability to decrypt transactions and identify unscrupulous businessmen.

The only drawback of Bitcoin was that he could revive the world drug traffic. However, thanks to special services, Bitcoin lost this minus. Merchants with weapons and drugs have become dangerous to use Bitcoin, because there is a serious risk of being exposed.

New currency - new types of fraud!

With the advent of a new digital currency, new types of fraud also appeared. With the use of crypto currency, scammers are able to take large sums from the naive user's wallet. Consider the popular types of fraud:

Exchange of Bitcoins.
The service provides services for the exchange of rubles and dollars in the crypto currency. Often, the owners of such sites entice users with a favorable exchange rate, which is what miserly investors come across. The very fraud is that no exchange occurs. The user in anticipation of the benefits of exchanging a good rate, transfers money to the specified account. This is the end of his investor activity, because he does not receive his Bitcoins in response.
Purse of the Bitcoins.
Owners of services entice visitors, assuring that they represent "the most reliable storehouse of the crypto currency". And many inexperienced bitcoin holders use little-known services. When a certain number of users are typed, the service owners reset their purses and disappear in an unknown direction.
Cloud mining.
To produce a crypto currency, you need powerful equipment. Those who do not have farms from video cards or ASICs, the owners of mining equipment offer cloudy production of crypto-currency. You pay money for the capacity of the authors of such projects, and in return receive the extracted coin. However, not always the owners of farms really possess equipment suitable for mining. Having paid the money to the "owner of the farm", a greedy crypto-enthusiast receives a jackpot exceeding his costs. Then he pays an even larger amount, but does not receive anything in return, because the "farm owners" do not go more to the link.
Phishing.
Bitcoin owners receive a message with a reference to a crypto-cash check or notification of a win in the draw. To receive a prize, you need to go to the link and specify the wallet data, to which the prize will come. As you can guess, no prize on the specified wallet will not come.

Soon bitcoin will become one of the major currencies in the world, so it's really the right decision to install an ATM. This will help many who work with earnings in bitcoins.

As mentioned earlier, experts predict the fall of all crypto-currencies at the end of this year

All that can be said about this situation is that the market of crypto currency at some point just fell from the cliff. It touched all crypto-currencies: bitcoin and alcoins. All jumped off the conditional bridge. Yesterday it seems like digital currencies have found the ground, but today they continued to roll down

As the South Korean government steps up its anti-money laundering (AML) oversight, major crypto exchanges in the country are voluntarily complying while banks are reportedly failing to meet the guidelines for compliance. South Korea has also been discussing ways to boost crypto-related AML measures with the U.S.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Government Concerned About Bank’s AML Compliance
As Korean Crypto Exchanges Step Up AML Compliance, Banks Are FailingSouth Korea’s AML directives currently do not apply to cryptocurrency exchanges directly. The government has made banks responsible for monitoring and reporting any crypto-related money laundering activities.

In an effort to comply with the country’s AML directives, most major South Korean banks have been adding compliance officers.

NH Nonghyup Bank, for example, “recently created an independent unit exclusively to handle compliance-related issues,” the Korea Times reported on Friday, adding that the bank increased the number of its employees working in that unit from 16 to 23. Nonetheless, the Joongang Daily noted on Saturday:

Despite the effort, Korea’s financial watchdog, the Financial Supervisory Service [FSS], warned that the bank has not sufficiently improved its internal control system.

Collaborating with the US
South Korea has also been collaborating with the U.S. to boost AML measures relating to cryptocurrencies. The Korea Times described:

U.S. Treasury Secretary Sigal Mandelker has discussed with FSC Vice Chairman Kim Yong-beom how to boost anti-money-laundering measures especially related to crypto-assets in addition to international cooperation measures.

As Korean Crypto Exchanges Step Up AML Compliance, Banks Are FailingHowever, the U.S. has found Korean banks’ AML measures to be inadequate. South Korea’s top financial regulator, the Financial Services Agency (FSC), said Friday that the New York Department of Financial Services (NYDFS) “has notified the financial regulator of its plan to investigate Korean banks [with operations in New York] that are suspected of failing to meet compliance guidelines.”

As Korean Crypto Exchanges Step Up AML Compliance, Banks Are FailingThe U.S. regulator has already fined Nonghyup Bank $11 million “for inadequate control and a compliance system against money laundering,” the Joongang Daily conveyed, adding that the NYDFS “will start probes into six Korean banks operating in New York either by the end of this month or next month.” They are “Nonghyup Bank, Woori Bank, KB Kookmin Bank, Shinhan Bank and two state-run banks – the Industrial Bank of Korea and the Korea Development Bank,” the publication detailed, elaborating:

Since penalties from the New York DFS would damage the reputation of Korea’s financial industry in general, local financial regulators are also working to encourage the banks to strengthen their control and compliance systems.

The list includes banks that are providing real-name services to crypto exchanges: Nonghyup Bank, Shinhan Bank, and the Industrial Bank of Korea. They are responsible for ensuring that the crypto accounts they service are AML compliant.

Crypto Exchanges Voluntarily Complying
As Korean Crypto Exchanges Step Up AML Compliance, Banks Are FailingIn South Korea, the Financial Intelligence Unit (FIU) is responsible for money laundering prevention and illegal fund flows, including terrorist financing. The FIU collaborates with the FSS to ensure that banks are adhering to AML rules. Both agencies report to the FSC.

Crypto exchanges are currently not directly regulated by the FIU or the FSS, but the regulators have proposed bringing them under the two agencies’ jurisdiction.

Meanwhile, the largest crypto exchanges in the country are voluntarily upgrading their AML and internal control systems. Bithumb has blocked 11 countries from using its platform and reduced withdrawal limits for accounts that are not using the real-name system. The Kakao-backed Upbit has adopted Thomson Reuters’ system for the same purpose. 23 crypto exchanges have also agreed to comply with the self-regulation standards set by the Korean Blockchain Industry Association.

https://news.bitcoin.com/korean-crypto-exchanges-aml-compliance-banks/

Bitcoin (BTC) is once more facing a drop to (or below) $6,000, with both short- and long-duration charts being aligned in favor of the bears.

The cryptocurrency found acceptance above the key resistance of $6,425 (April 1 low) in the second half of last week, raising the prospects of a corrective rally towards the $7,000 mark.

Further, while a fall to $6,000 following a bear flag breakdown on Friday seemed likely, losses were unexpectedly cut short at $6,300, signaling bearish exhaustion.

Yet, the leading cryptocurrency did not find any takers over the weekend, leaving trading flat-lined above $6,500.

Courtesy of the drop from $6,573 (Sunday's high) to $6,370 (today's low), the short duration charts have now turned bearish. Meanwhile, the long duration charts continue calling a bearish move.

As of writing, BTC is changing hands at $6,430 on Bitfinex – down 1.3 percent over 24 hours and is looking southwards.

4-hour chart


BTC's drop to $6,370 earlier today confirmed a downside break of the pennant – a bearish continuation pattern indicating the sell-off from the high of $7,638 has resumed.

As a result, the cryptocurrency could slide to $5,820 (target as per the measured height method, i.e. the difference between the pennant high and low subtracted from the breakdown price).

The moving averages (MAs) are also biased bearish, with the 50-candle, 100-candle and 200-candle MAs all trending south.

Further, the relative strength index (RSI) is struggling to rise above 50.00 (into bullish territory).

Daily chart


BTC remains trapped inside a falling channel, the RSI remains below 50.00 (in bearish territory) and the 10-day MA is falling (bearish).

Weekly chart


The 5-week and 10-week MAs are losing altitude, signaling a bearish setup and adding credence to the pennant breakdown.

The 10-week MA is about to cross the 50-week MA from above (bearish crossover) for the first time since September 2015.

View
BTC will likely test $6,000 this week and could extend losses further towards $5,820.
On the higher side, a convincing break above $6,618 (resistance seen in 4-hour chart) would open up upside towards the 5-week MA, currently located at $6,943.
Only a weekly close above $7,959 (50-week MA) would abort the long-term bearish view.


https://www.coindesk.com/stalled-bitcoin-recovery-raises-risk-of-drop-to-6k/

The US SEC has decided Bitcoin and Ethereum will not be regulated as securities but the debate continues to rage over Ripple, the third-largest cryptocurrency by market capitalization. Some argue US FinCen has already set a precedent for Ripple’s definition, which will mean the SEC must eventually follow suit.

June has seen the US Securities and Exchange Commission (SEC) make clear that Bitcoin (BTC) and Ethereum (ETH) are not securities and will not be regulated as such. Ripple’s (XRP) classification, however, is still up for debate – or is it?

Some believe a ruling by the US Financial Crimes Enforcement Network (FinCEN) in 2015 sets a definition for the native coin of the Ripple network, XRP, within the US federal government that cannot be superseded by the SEC. As Twitter user Richard Holland (@codetsunami) notes:


Jason Fox
@FUDShield
16 Jun
Definition of a Security. Sorry XRP haters but XRP is none of these. pic.twitter.com/dyfxDauZE6


Richard Holland
@codetsunami
 FinCEN already signed an agreement with Ripple Inc. allowing them to continue their XRP sales. If XRP is an unlicensed security then FinCEN now has to explain why they signed an agreement allowing the sale of said unlicensed securities. Never going to happen. XRP isn't a security

4:46 AM - Jun 17, 2018
445
213 people are talking about this
Twitter Ads info and privacy
In a 2015 civil enforcement by FinCEN, Ripple Labs was accused of violating the Bank Secrecy Act (BSA) by acting as a money services business (MSB) and selling XRP without registering with FinCEN. It also failed to implement and maintain an adequate anti-money laundering (AML) program.

A settlement agreement ensued, criminal charges were resolved, and Ripple was fined $450,000 USD. Critically to the debate, the trading of XRP was permitted:

Through a registered MSB: to implement and maintain an effective AML program: to comply with the Funds Transfer and Funds Travel Rules: to conduct a three-year “look-back” to require suspicious activity reporting for prior suspicious transactions and a requirement for the companies to retain external independent auditors to review their compliance with the BSA every two years up to and including 2020.

Ripple Labs was also asked to make enhancements to the Ripple Protocol to monitor future transactions. Then-US Attorney Melinda Haag, commenting on the settlement, said that she hoped it set an “industry standard” in the digital currency space.

Holland goes on to share part of the introduction and background from the FinCEN ruling he believes is the most critical point:


Richard Holland
@codetsunami
17 Jun
Replying to @FUDShield
FinCEN already signed an agreement with Ripple Inc. allowing them to continue their XRP sales. If XRP is an unlicensed security then FinCEN now has to explain why they signed an agreement allowing the sale of said unlicensed securities. Never going to happen. XRP isn't a security


Richard Holland
@codetsunami
 These are the agreed facts of the settlement where FinCEN agrees with prejudice that XRP is a currency and therefore not a security. This debate is over. pic.twitter.com/QNF7mBil8z

6:09 AM - Jun 17, 2018
View image on Twitter
135
60 people are talking about this
Twitter Ads info and privacy
Though not an expert on US law and relatively unknown in the Twitter-sphere Holland is an entrepreneur and the creator of an open source XRP wallet. He says:

They have already bound the US Fed Government into a position where $XRP is a currency according to the agreed facts of the settlement. Something can’t be both a currency and a security. Subject matter jurisdiction of the agency doesn’t affect its ability to bind the whole govt.

Not everyone in the cryptocurrency community agrees that FinCEN has set the bar for XRP but the argument is certainly fuelling the debate, and no one can deny that precedent is an important factor in law and regulation.

Proponents of Ripple argue that XRP does not meet the definition of a security:



Ripple Labs has worked hard to portray XRP as a digital currency rather than a security. Brad Garlinghouse, Ripple CEO, recently told CNBC:

Whether or not XRP is a security shall not be dictated by one lawsuit. The SEC is the governor of that. I think it is very clear that XRP is not a security. It exists independently of Ripple the company. If Ripple, the company shut down tomorrow, XRP will continue to exist.

Cory Johnson, Ripple’s chief market strategist, declared Ripple absolutely “not a security” and that Ripple does not meet the standards for what a security is based on the history of court law.

http://bitcoinist.com/great-ripple-debate-fincen-ruling-labels-xrp-currency-not-security/

Many of those invested and interested in the cryptocurrency markets were around for the rise and fall of the Dot-com era and birth of the widespread public internet. The Dot-com bubble burst is constantly being used in arguments that cryptocurrency will suffer the same fate, bringing the markets to a crashing close. Are we early to the party, or just in line for disappointment?

BOOM AND BUST
It is safe to say that anyone who has dabbled in the cryptocurrency and blockchain space for even a small amount of time, has read or been told: “It’s just a bubble, it’ll burst sometime soon.” Cryptocurrency – and more specifically, Bitcoin – is often likened to the Dot-com bubble that lasted from 1995 until 2001. But does this mean that it is inherently a bad thing, or are we just counting down the time until cryptocurrency meets same fate?

As the world marched across the threshold into the Age of Information, nobody could have fathomed the tremendous changes that were to come.

Investors flocked with open checkbooks to anything and everything that was pitched as an online business. Similarly, billions of dollars are being poured into the growing number of ICOs (Initial Coin Offerings). In the first half of 2018, more than $10 billion has been invested in ICOs – nearly three times the amount invested in all of 2017. The frenzy behind ICO investing shows no signs of abating, despite regulatory uncertainty.

Yoni Assia, CEO of eToro, told Business Insider:

You have something that you’ve never had before, not even in the dotcom bubble: if you have a genius idea now and you put a whitepaper on it and suddenly you have 100,000 millionaires reading it and saying ‘hmm, that’s a really good idea.’ If 1,000 put in $10,000 — which is not a lot of money for those 100,000 — you just raised $10 million for your ICO. That scale has never happened before.

Of course, as with any investment, there are risks. The ICO landscape is chock full of “projects” that amount to little more than an idea, a whitepaper, and a promise to bring that idea to fruition with investor funds. The reality, however, is that the vast majority of ICO projects will never get past the startup phase.

Assia notes:

Ninety-five percent are going to end as nothing because that’s startup funding.

Ethereum co-founder Joseph Lubin shares Assia’s sentiment. Speaking at a press conference at MoneyConf in Dublin earlier this month, Lubin stated:

If you look at the dotcom boom and bust, there were so many of the same issues back then. So much money invested, lots of money lost, lots of failing projects.

Boom And Bust

IN IT TO WIN IT
While the Dot-com boom – and subsequent bust – should serve as a cautionary tale about throwing money willy-nilly at projects without doing your due diligence, it is important to remember that the ‘bust’ was only relative. The idea of doing business online didn’t go away with the Dot-com bust. What did happen is that weaker projects – those that served no real purpose or were simply money grabs – fell by the wayside.

If we look at the companies that survived the bubble – companies like Amazon, Google, Apple, and countless others – we can see the countless ways that they have influenced and changed the way many of us live our daily lives.

It would not be naive to think that a handful of projects in the cryptocurrency space will also do the same. This ‘survival of the fittest’ mechanism could bring unimaginable and exponential innovations to our lives. Earlier this year, venture capitalist and Bitcoin advocate Tim Draper passionately commented on the magnitude of impact that cryptocurrency could have on our lives:

This is bigger than the internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution. […] This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.

This time around, investors and developers are equipped with newer and faster technology, as well as a bit of hindsight.

Increased competition could certainly mean higher profits for those who can adapt to the new markets while not making the same mistakes as those before us.

http://bitcoinist.com/investing-in-cryptocurrency-likened-to-investing-in-the-internet-10-years-ago/

BIS: BITCOIN, YOU SCARY
On Sunday, BIS released a new 24-page document outlining why it believes cryptocurrencies like Bitcoin cannot become a bona fide financial instrument for the global economy.

The latest report cites a “range of shortcoming,” including the usual concerns over high volatility and electricity consumption, as well as inability to scale. The BIS extrapolates that if Bitcoin was to process all global payments in its current state, the decentralized network would overload everything from mobile devices to servers around the globe and effectively break the internet. The report notes:

The associated communication volumes could bring the internet to a halt, as millions of users exchanged files on the order of magnitude of a terabyte.

BIS

The environmental impact would also be significant, according to the report, which estimates that the total electricity consumption of Bitcoin mining equals to that of mid-sized economies like Switzerland.

“Put in the simplest terms, the quest for decentralised trust has quickly become an environmental disaster,” it reads.

The paper also cites 5-year old data to demonstrate volatility, while being completely oblivious to layered scaling solutions, like the Lightning network, currently being rolled out, which have the potential to process millions of transactions per second — more than Visa and Mastercard combined.

FUD: REUSE, RECYCLE, REPEAT
For the third time this year, the BIS appears to be bent on scaring the public into believing that Bitcoin, in particular, is merely hype — but can the first and foremost cryptocurrency really bring down the internet?

Earlier this year, the same global bank stated that cryptocurrencies could also “destabilize the global economy” — but in an effort to appear open-minded and innovative, the BIS delivered the Blockchain-not-Bitcoin cliche in declaring that Distributed Ledger Technology (DLT) is the real deal.

Of course, the BIS omits that DLT is the harmless, none-disruptive component of Bitcoin that poses no threat to the central banking system. It’s essentially a distributed database that central banks can re-centralize and keep under wraps. What’s more, they can even issue their own “central bank digital currency” (CBDC).

“Such a CBDC might be exchanged between private sector participants bilaterally using distributed ledgers without requiring the central bank to keep track and adjust balances,” the report states, continuing:

It would be based on a permissioned distributed ledger with the central bank determining who acts as a trusted node.

Conversely, the former (Bitcoin technology) does pose a serious threat in disrupting the entire global central banking system by eliminating the need to trust third-parties and centralized financial entities (like BIS), in particular — making them effectively obsolete.

This view is not only shared among Bitcoin supporters but was also supported by The World Gold Council, which admitted that Bitcoin — often referred to as “digital gold” — could “undermine the tools used by the Fed and other central banks to influence the economy.”

Meanwhile, author of the Bitcoin Standard, Saifedean Ammous, slammed the report, calling it “nocoiner propaganda.” He wrote on Twitter:

Are you looking for a comprehensive summary of the most idiotic nocoiner propaganda against Bitcoin? The Bank Of International Settlement’s Concern Troll Division has published a compendium just for you.

To which, Bitcoin investor and entrepreneur Alistair Milne responded by saying:

I don’t know about you, but I find this [BIS report] reassuring … i.e. it either demonstrates a complete lack of understanding/knowledge … or they’re scared enough to write this nonsense in an effort to misinform!


http://bitcoinist.com/bank-bis-hates-bitcoin-reassuring/

Study Finds Irish Crypto Sentiment to be Moving “From Suspicion to Curiosity”
Study Finds Irish Crypto Userbase to Have Quadrupled in Four YearsA study carried out by Amárach Research in partnership with communications firm Red Flag has found Irish citizens to be viewing cryptocurrencies in an increasingly favorable light. The survey queried 1,000 Irish citizens aged over 16 years, and claims to be “the first in a series” of polls examining Irish engagement with financial innovations.

The research estimates that 120,000 Irish citizens currently own cryptocurrency, a 300% increase in four years. In total, the study estimates that 180,000 Irish citizens have at some point owned BTC.

General awareness of cryptocurrency appears to have substantially increased following the significant media coverage of last year’s bull run, with 85% of respondents indicating that they were familiar with bitcoin – up from less than half of Irish adults in 2014 as was found in a separate study conducted by Amárach.

Millennials are Three Times More Likely to Own Cryptocurrencies
Study Finds Irish Crypto Userbase to Have Quadrupled in Four YearsUnsurprisingly, millennials were found to be the demographic most likely to engage with cryptocurrency, with 25 – 34 year olds estimated to be three times more likely to own crypto assets than the average person.

Despite the significant uptick in Irish crypto user adoption, Gerard O’Neill, the chairman of Amárach, stated that “Cryptocurrency advocates still have a long way to go in driving higher adoption in Ireland.”

Deirdre Grant, managing director of Red Flag Ireland, concluded that “This is a fast-growing sector in Ireland, particularly among young men. But, the level of understanding is still quite low, with one in eight respondents believing [cryptocurrencies] are used mainly by criminals.”

Irish Regulators Provide Tax Guidance for Crypto Users
Study Finds Irish Crypto Userbase to Have Quadrupled in Four YearsLast month, Ireland’s Revenue Commissioners published a manual seeking to provide clarity regarding the tax obligations of the nation’s cryptocurrency users.

The document asserted that businesses and individuals transacting in cryptocurrency will be taxed according to existing regulations, with gains and losses on cryptocurrency trades accruing capital gains tax for individuals and corporate tax on chargeable gains for companies.

https://news.bitcoin.com/study-finds-irish-crypto-userbase-quadrupled-four-years/

Taxpayers in Russia have started declaring incomes and profits from crypto transactions even before cryptocurrencies are legalized in the country, results from this year’s tax campaign show. The Finance Ministry has again clarified the applicable tax rules, while the State Duma is still fine-tuning the upcoming regulations.

Also read: Russian Railways Eyes Crypto for Tickets, Blockchain for Cargo

One Conscientious Taxpayer
Crypto Incomes Declared on Tax Returns in RussiaA resident of the Altai Republic, a subject of the Russian Federation, has for the first time declared income obtained through purchases and sales of cryptocurrency, the Federal Tax Service reported on its website. The announcement is based on results from this year’s tax collecting campaign, the authority noted.

Taxpayers must declare their tax obligations no later than April 30 of the year following the taxation period, the Service reminded. The tax base for crypto transactions is calculated in rubles. It represents the excess amount of the total received from the sale of cryptocurrency over the total of the expenses for its acquisition. In the absence of special rules, residents dealing in crypto are expected to follow the established general procedures.

The clarification notice reflects recently issued instructions, which Minfin sent to regional tax inspectorates in a letter dated June 6. Noting the lack of dedicated provisions, the ministry said taxpayers could reduce their taxable crypto income by deducting the incurred and documented expenses for the purchase of crypto assets. In case of ambiguity, the tax legislation is interpreted in favor of the taxpayer.

Some Questions Remain
Crypto Incomes Declared on Tax Returns in RussiaThe question that many in the Russian crypto community are still asking is what the special crypto tax rules would look like. That should be decided by the Council of Ministers and the Central Bank of Russia (CBR) before July, 2018, as requested by President Putin. Officials have made different proposals but the ultimate decision depends on the legal of cryptocurrencies, which has yet to be determined.

The State Duma, the lower house of Russia’s parliament, has supported on first reading three draft laws aimed at regulating the country’s crypto sector. The bills – “On Digital Financial Assets,” “On Attracting Investments Using Investment Platforms” and “On Digital Rights” – should be adopted by the end of June.

Choosing the exact terms to define cryptocurrencies, however, has proved to be a difficult task. The chair of the parliamentary Financial Market Committee, Anatoliy Aksakov, told journalists this week that “digital money” and “digital currency” will be removed from the drafts and replaced with the legal concept “digital rights.” A similar comment was made earlier by Russian Prime Minister Dmitry Medvedev. The legal status of cryptocurrencies will directly affect the taxation of their transactions.

Tax Breaks for the Self-Employed
A new tax regime for self-employed Russians is expected to enter into force from July, next year. Its provisions will also affect those engaged in crypto-related activities, including miners and traders of digital assets, owners and clients of cryptocurrency exchanges. A survey conducted a couple of months ago showed that cryptocurrency is the main source of income for 12% of Russian crypto users.

Crypto Incomes Declared on Tax Returns in RussiaAs a preliminary estimate, Russia has all the prerequisites to become a crypto-friendly jurisdiction, when it comes to taxation. Income tax in the country is only 13%. According to an earlier communication by the Finance Ministry, Russians are expected to pay the same flat rate on their crypto-related incomes. The recommendation was issued in response to an enquiry filed in October, last year.

As part of the new tax regime, it has been proposed to adopt even lower rates for self-employed Russian residents – 3% for natural persons and 6% for corporate entities. These changes may be introduced in Russia’s regions first, as early as the beginning of 2019. In comparison, income tax rates in countries like Japan and France reach more than 50%.

https://news.bitcoin.com/crypto-incomes-declared-on-tax-returns-in-russia/