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Russian Central Bank Pushes For ‘Professional’ Miners Taxation



The deputy head of Russia’s central bank Olga Skorobogatova has stated that cryptocurrency mining as a business has to be registered and taxed.

The official insists that mining is more than just production of cryptocurrencies.

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“Mining is validation of transactions that are represented as blocks on the blockchain. Validation is carried out by finding complex mathematical formulas, and it requires a serious infrastructure, so we think it’s a business. And, being a business, it has to be registered and subject to taxation,” Skorobogatova said.

According to Skorobogatova, the taxation will cover both companies and individual entrepreneurs.

Earlier, Russia’s ministry of finance has issued a statement suggesting that no special taxation is needed for bitcoin/fiat exchange operations.



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