In case of Russia, for example, officials supposedly going to officially treat cryptos as foreign currency. With all the repercussions.
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In case of Russia, for example, officials supposedly going to officially treat cryptos as foreign currency. With all the repercussions.
Interesting. I don't know Russian tax law, but I suspect this will lead to cryptos being taxed frequently as speculative vehicles, the same way Forex trades would be taxed. However, being legally classified as currency can sometimes also carry advantages - for example, the special taxation benefits on US Gold coins in the US due to their status as legal tender (they trigger less IRS reporting requirements than foreign gold coins).