[2016-12-02] Russian Tax Service To Treat Bitcoin As A Foreign Currency

[Vladdirescu87]

The Russian Federal Tax Service has published a letter on measures to control cryptocurrency circulation and exchange.

According to the letter published by the Russian Federal Tax Service, Russian legislation does not prohibit individuals or companies from using cryptocurrencies, thus the Federal Tax Service of Russia considers that operations with the purchase or sale of cryptocurrency should be treated as transactions with foreign currencies, reported Bits.media.

More info here: https://coinidol.com/russian-tax-service-to-treat-bitcoin-as-a-foreign-currency/

[richardsNY]

I never take news articles where Russia is the main point of attention too seriously. Mainly because of the fact that one article states that it's prohibited for any business to work with Bitcoin in any way, and later an article pops up saying the exact opposite. Other than that, Russia is just catching up legal wise, where many other countries have gone through all of this already. But then again, what may seem as a clear statement right now, may turn into something completely different a month later. Always take Russian news articles with a pinch of salt.