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- On cryptocurrencies in Russia: Cryptocurrencies in Russia
- About Bitcoin: Bitcoin (Bitcoin)
Law on Digital Financial Assets and Digital Currency in Russia
Main article: Legislation on digital financial assets and digital currency in Russia (259-FZ)
2023
In Russia, 53 thousand bitcoins worth $3.5 billion were mined per year
In Russia, in 2023, about 53 thousand bitcoins were mined in the amount of about $3.5 billion. This was reported on June 13, 2024 by the Prime agency with reference to the data of the Industrial Mining Association of the Russian Federation. Read more here.
The Supreme Court of Russia for the first time allowed to consider the conversion of bitcoin into rubles as laundering
In June 2023, the Supreme Court of Russia allowed the conversion of bitcoins into rubles to be considered legalization of proceeds from crime.
According to RAPSI with reference to the materials of the case, the defendant (his name is not called) illegally kept precursors of narcotic drugs and was engaged in the production of mephedrone. He received money from buyers in cryptocurrency, which he converted into rubles and transferred to the accounts and cards of his partner's daughter. The court of first instance found him guilty of drug trafficking, but acquitted him on charges of money legalization. The court considered that financial transactions with funds converted from bitcoins, without introducing them into economic circulation, do not indicate the legalization of proceeds from crime.
The deputy prosecutor general did not agree with this, who indicated that the accused purposefully made financial transactions to transfer funds from a virtual account to bank cards and withdrew 8.2 million rubles.
The appellate court agreed with the decision of the trial court. The Supreme Court found that the court "made extremely contradictory judgments." The Supreme Court said that "these financial transactions knowingly for the culprit mask the connection of legalized property with a criminal source of its origin." The highest instance drew attention to the fact that the accused, being in the Moscow and Ryazan regions, converted bitcoins into rubles and transferred them to the cards of the daughter of the cohabitant "in order to give a legitimate look to ownership."
 | Contrary to the conclusions of the court of the first and appellate instances for the presence of corpus delicti, provided for by Art. 174.1 of the Criminal Code of the Russian Federation, no mandatory involvement of legalized funds in economic turnover is required, since the liability under this article of the law arises when establishing the very fact of financial transactions in order to give a legitimate form of ownership, the use and disposal of funds or other property, - said in the decision of the Supreme Court.[1] |  |
A court in Moscow seized 1,032 bitcoins from a former investigator of the Investigative Committee
According to RIA Novosti, Tambiev, who headed the investigation department of the Moscow headquarters of the Investigative Committee for the Tver Region, in 2022 investigated the case of the hacker group Infraud Organization. Read more here.
2021
Revenue from bitcoin mining in Russia increased 18 times
The dynamics of activity growth the Russian miners over the past 5 years demonstrates significant results. So, according to the calculations Intelion Data Systems of the company's experts, over four years, mining revenue (bitcoin BTC) Russian miners has grown more than 18 times - from 7 billion rubles in 2017 to 128 billion in 2021. Representatives of Intelion Data Systems announced this TAdviser on October 21, 2022. According to their estimates, the increasing dynamics retained its forward vector even during the periods of crisis years, demonstrating stable growth. More. here
Rosfinmonitoring signed a contract to create a cryptocurrency transaction monitoring system
The Federal Financial Monitoring Service Rosfinmonitoring (), which performs Russia financial intelligence functions, has signed RCO a I will save contract with the company (controlled by "") to create a module for monitoring and analyzing cryptocurrency transactions using. " bitcoin This became known in early August 2021. More. here
The Federal Financial Monitoring Service Rosfinmonitoring (), which performs financial intelligence functions in Russia, has signed RCO a I will save contract with the company (controlled by "") to create a module for monitoring and analyzing cryptocurrency transactions using. " bitcoin This became known in early August 2021.
2019
Bitcoin was first included in the authorized capital of the company in Russia
At the end of November 2019, it became known that bitcoin was first included in the authorized capital of the company in Russia . This event, according to experts, will not create a legal status for cryptocurrency, but may expand its scope.
As Kommersant writes with reference to the main owner and general director of Artel LLC Mikhail Uspensky, the founders of the company included an investor who, in exchange for 5% in the project, contributed to the authorized capital virtual currency - 0.1 bitcoin (about 60 thousand rubles at the time of the transaction). Of these, 750 rubles were intended to pay for shares in the authorized capital, and the remaining part was transferred to the balance sheet of the LLC. To contribute cryptocurrency to the authorized capital, an independent assessment of the electronic wallet was carried out by the Veta expert group.
According to Uspensky, at first the Federal Tax Service refused to register changes. Then the certificate of receipt and transfer of the login and password from the electronic wallet was issued and the package of documents was certified by a notary. After that, the tax service adopted changes in the structure of the organization.
The managing partner of the EBR, Alexander Zhuravlev, believes that the possibility of introducing cryptocurrency into the authorized capital actually recognizes it as a property right.
| | Now it will be possible not only to buy, sell or change cryptocurrency, but also to use it as a tool for investing in business, "he said. | |
According to experts, before investing bitcoin in the authorized capital, you must definitely check the cryptocurrency for previous owners and operations. There is a risk that bitcoin was used, for example, to cash out illegal funds or in illegal transactions on the darknet. Then the property can be arrested and seized as evidence in a criminal case.[2]
In Russia, began to determine the official bitcoin rate
On October 9, 2019, it became known that the Russian Association of Cryptocurrencies and Blockchain (RAKIB) and the Commission on Legal Support of the Digital Economy of the Moscow Branch of the Russian Bar Association (MO AYUR) developed a methodology for determining the official bitcoin rate.
According to Izvestia, the technology asks several exchanges for bitcoin every 30 seconds. The data collected per day are recorded at 23:59:40 Moscow time. Further, the weighted average value is calculated from them. The exchange rate against the dollar and the ruble is derived from it. The rate of cryptocurrencies traded in tandem with bitcoin is also determined.
It is assumed that the new system will allow the introduction of taxation of cryptocurrencies, as well as simplify litigation involving digital money. For example, investigators will be able to determine the amount of damage when initiating criminal cases for crimes with a new type of asset. In addition, such an instrument will be used for accounting in companies.
The mechanism simplifies the payment of income tax for operations with crypto assets, explains Mikhail Uspensky, deputy chairman of the Commission on Legal Support of the Digital Economy of the Ministry of Defense of the AYUR. The presence of a cross-course will allow investigators to determine the amount of damage when initiating criminal cases on crimes with digital money, believes Ilya Kucherov, deputy director of the Institute of Legislation and Comparative Law.
According to Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, the bill on digital financial assets was not adopted by October 9, 2019, and its current version does not allow legalizing cryptocurrencies.
However, in his opinion, if the Bank of Russia accepts a different point of view regarding legalization, even with strict regulation, then the RAKIB tool will be able to be used.[3]
Russia may introduce administrative responsibility for cryptocurrency mining
On June 10, 2019, it became known that it State Duma plans to introduce administrative responsibility for any actions with that are cryptocurrency not provided for by Russian law. As of June 10, 2019, Russian laws do not regulate the treatment of, " bitcoin ether" and other types of virtual currency. More. here
2017
Ministry of Telecom and Mass Communications: bitcoins will remain outlawed
The head of the Ministry of Telecom and Mass Communications Nikolai Nikiforov considers the use of blockchain technology in Russia "quite possible," but bitcoins will not be legalized.
Nikolai Nikiforov said that bitcoins are a kind of foreign project for the use of blockchain technology, while Russian legislation will never consider bitcoins as a kind of legal entity in the jurisdiction of the Russian Federation.
Earlier, the head of the Central Bank Elvira Nabiullina spoke out that she would not allow the use of cryptocurrencies in Russia as money surrogates. In her opinion, this carries the risk of undermining money circulation. Minister of Economic Development Oreshkin Maxim Stanislavovich generally compared bitcoins with MMM shares of the Ministry of Telecom [4].
According to the expert, it is important to determine whether cryptocurrencies are a financial instrument or a commodity. Because depending on how you answer that question, you're going to get different tax regimes. For example, in Russia there is VAT, which is charged on gold, so we do not have an active market for financial gold. Declaring cryptocurrencies a commodity, as they did in some American states, would mean for Russia to actually close the market, because no one wants to pay VAT.
German Klimenko: 20-30% of all computers in Russia are infected with the virus for mining bitcoins
Advisor to the President of Russia on the Internet German Klimenko in July 2017 in an interview with RNS in July said that 20-30% of all computers in Russia are infected with a virus for mining bitcoins.
"The regions are smaller due to the lack of traffic quality, but it is believed that 20-30% of devices are infected with this virus - iPhones and Macs are smaller," Klimenko explained to RBC.[5]
See more Malware (malware)
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