Russia going smooth on cyrpto!

In Russia, lawmakers have approved a draft law that would potentially exempt issuers of digital assets and cryptocurrencies from value-added tax. This is a significant development, as it shows that the Russian government is starting to recognise the potential of digital assets and blockchain technology. The move could also help to attract more investment into the country's burgeoning crypto industry.
The draft law, which was approved by State Duma members in the second and third readings on Tuesday, envisages exemptions on value-added tax for issuers of digital assets and information systems operators involved in their issue. It also establishes tax rates on income earned from the sale of digital assets. The current rate on transactions is 20 per cent, the same as for standard assets. Under the new law, the tax would be 13 per cent for Russian companies and 15 per cent for foreign ones.
This is a positive step forward for the crypto industry in Russia, and it could help to boost adoption of digital currencies in the country. However, it remains to be seen how this will play out in practice, as there are still many hurdles to overcome before cryptocurrencies can be widely used in Russia