Taxing Bitcoin And Other Cryptocurrencies in Russia in Mikhail Mishustin’s Sights; Commu…

Several regions across the globe have their own rules and regulations about cryptocurrencies: some love it, some hate it and some are still on the fence. The latest focus point was on Russia, a country known to be in two minds about Bitcoin.

The last few weeks have been chaotic in the Kremlin due to a massive cabinet reshuffle. This also resulted in former Prime Minister Dmitry Medvedev being replaced by Mikhail Mishustin. The new PM is a former tax man and has made some strong comments about Bitcoin.

Mishustin’s appointment was seen as a step taken by Vladimir Putin to ensure an airtight economy. This was the reason why Bitcoin and the cryptocurrency market was of such key importance to Mishustin. He had earlier served as the director of the Russian Internal Revenue Services with a keen eye to stop financial fraud.

In a bid to make cryptocurrency transactions safer, the new Prime Minister wants all crypto-related operations to be taxed. This step was proposed to keep a close watch…