A member of the Russian Association of Cryptocurrencies and Blockchain (RACIB), “CryptoUnivers” wrote a letter to the Finance Ministry with a proposal to give the independently employed or self-employed status to the crypto miners. As per the report, the letter was routed to Finance Minister Anton Siluanov. He proposes measures to approve the creation of digital currency. Yuri Pripachkin, the leader of the Association, affirmed that the initiative is a joint venture of CryptoUnivers and RACIB.
Specifically, the letter suggests that, after acquiring a self-employed status, miners will have to pay 3-5% tax instead of the present income duty of 13%. Also, there is a proposal to make a legal plan to convert the cryptocurrency into rubles. In the organization’s feeling, it ought to improve state control over cryptocurrency, empower the income of the miners to be legitimized and deduct extra tax from the financial plan.
“CryptoUnivers” evaluated the quantity of private digital money miners who wrongfully manage the creation of cryptocurrency in Russia, is more than 350 thousand.
In most cases, they illegally trade out the crypto money funds because they don’t have the chance to receive money in legal terms and because of this reason, the Russian government gets under 2 billion rubles in taxes.
In an interview held in 2017, Anton Siluanov had stated that “Bitcoins are not monetary symbols of the Russian Federation, not rubles. Trust in them no. This is an ordinary surrogate.”
The miners are still in the grey area, while the status of the self-employed would enable them to work inside the legal system and Russian enactment, instead of clarifying the explanations behind increased electricity consumption, co-founder and managing partner of the Tokenbox platform Vladimir Smerkis has the same opinion.
As per Mr. Smerkis, charging assessments on individuals who have just a single PC for mining on the gallery will not help the state budget. It is more critical that modern mining does not utilize escape clauses in the legal field for tax avoidance. It is essential, to begin with; the definition of the cryptocurrency and the adoption of a law that gives them the status fundamental for further work, and the taxing enactment will also be tightened.
While the state can’t settle on the status of the digital currency itself, such extensive proposal look populist, specialists say.
The press administration of the Ministry of Finance expressed that they are as of now taking a shot at the Federal Law “On Digital Financial Assets,” which is under thought in the State Duma.