Authorities expect to collect more than $13 billion as tax payments from the crypto market in Russia, according to a government document quoted by media. The estimate comes as Russian institutions are holding discussions on the future of cryptocurrencies in the country.
- via bitcoin.com
Russians own over 16.5 trillion rubles in cryptocurrency (around $215 billion).
The total of the tax revenues expected from the digital assets industry can potentially reach one trillion rubles a year, $13 billion in U.S. currency. The analysis provides various assessments of the size of Russia’s crypto market, suggesting that the country’s share of the global crypto economy could be 12% or more.
This will be such a huge amount of tax to be collected and Russia is also said to share of 12% to the global crypto economy.
