In Russia, it is necessary to introduce enhanced control over the field of cryptocurrencies, I told ABF "Economics today» President of the Foundation for the Support of Scientific Research and Development of Civil Initiatives "Osnovanie" Alex Anpilogov.
Russia systematically strengthens control over the cryptocurrency sphere, by introducing the mandatory declaration of the virtual means of payment. Now at the Federal Tax Service (FTS) there is access to data on transactions with cryptocurrency from banks, over time, the list of available information will expand.
Cryptocurrencies are not subject to inflation
Russian President Vladimir Putin in July 2020 signed the bill, allowing transactions using digital financial assets (CFA), that 2021 of the year legalized the purchase and sale of cryptocurrencies.
“Cryptocurrencies are the same payment instruments, like other fiat money in Russia. The exoticism of virtual currencies is a thing of the past, they are now being used far beyond cyberspace ", - explained Anpilogov.
Legislation prohibits cryptocurrencies as a means of payment throughout the Russian Federation.
“Recognition of cryptocurrency as a means of payment on the territory of Russia is at the intersection of convenience, legality and relevance. If the currency meets all the criteria, it can be admitted to mass use. The new payment instrument has the main advantage - inflation resistance. Additional regulation of this area will be another step towards the legalization of virtual money ", - summarizes Anpilogov.
The State Duma is considering a bill, obliging to levy income tax or personal income tax on income from transactions with digital currency. All participants will be required to declare such transactions in the amount of 600 thousand rubles per year.
«Изначально криптовалюты использовали для анонимных покупок запрещенных товаров, так как вычислить, кому принадлежит криптокошелек, it was impossible. Government regulation involves the mandatory disclosure of the owner of such currency, which excludes the possibility of criminal activity ", - believes Anpilogov.
FTS will monitor cryptocurrency transactions
You need to declare income from cryptocurrencies in Russia from transactions, committed in 2021 year. To 30 April 2021 years, Russians will need to report to the Federal Tax Service on all transactions using digital currency.
“Cryptocurrencies must be declared without fail, since such a currency is most often used as a store of value. This will help in the fight against money laundering and eliminate the likely proceeds of crime.. To increase your credit of trust, virtual means of payment should become open and public ", - states Anpilogov.
FTS is unable to track cryptocurrency transactions, but can receive transaction data from banks, if they use traditional currencies. Tax service receives data on crypto transactions, if they use fiat currencies, from banks and payment systems, and in the near future will be able to receive them from exchangers, which will be registered with the Central Bank, according to the law on CFA.
“The storage of funds in cryptocurrency turned out to be associated with the darknet - a semi-legal sector of the world computer network. Virtual currencies need to be more controlled, tightening the rules of treatment. Thus, the state will protect society from negative consequences., associated with the use of similar payment systems ", - believes Anpilogov.
For illegal circulation of digital money, as well as transactions with them and use as payment for goods and services in Russia, it is proposed to introduce administrative and criminal liability. For citizens it's up to 100 thousand. rubles fine and seven years in prison, for legal entities - up to 1 million rubles of fine.
"Uncontrolled and poorly managed sphere of circulation, borrowed by cryptocurrencies, need to be carefully tracked. However, digital money itself may prove to be more convenient in the age of global digitalization.. It is necessary to develop this area in Russia, however with caution ", - concluded Anpilogov.
The expert believes, that cryptocurrencies are much inferior to the usual fiat currency, since the mechanisms of crypto content around the world have not yet been determined. Confirmation of a transaction using virtual money can take several hours in case of a heavy network load., therefore instant payments will become unavailable.
Valeria Borisevich
