The Russian Association of crypto-economics, Artificial Intelligence, and Blockchain (Racib) has reached out to Finance Minister Anton Siluanov seeking clarity on the proposed legislation to impose criminal liability on "gray" miners in Russia. The proposed legislation seeks to penalize individuals who do not report their income to the state and withhold information about their digital assets.
As an industry organization, Racib is committed to promoting the responsible use of cryptocurrencies and blockchain technology. The organization understands the importance of clear and transparent regulations to facilitate the growth and development of the sector. Racib has expressed its concerns about the potential impact of the proposed legislation on the crypto industry.
In a letter addressed to the Finance Minister, Racib has requested access to the draft amendments to the Criminal Code that have been put forward by the Ministry of Finance. The amendments provide for the prosecution of miners who evade taxes, among other things. Racib has urged the government to ensure that the legislation does not hinder the growth and development of the crypto industry while promoting transparency and accountability.
Racib has also requested representation in the working group that is drafting the legislation that will regulate cryptocurrencies in Russia. The organization believes that its inclusion in the working group will ensure that the interests of all stakeholders are taken into account.
Mining companies in Russia are now required to report their income and provide tax authorities with detailed information about their digital asset holdings, including wallet addresses, to avoid criminal liability. Failure to comply with these provisions can result in hefty fines and even imprisonment.
Racib has expressed confusion and concern about the new regulation and has requested that its experts be allowed to study the proposals. The organization believes that clear and transparent regulations are essential for the growth and development of the crypto industry in Russia.
In conclusion, Racib is committed to working with the Ministry of Finance and other government institutions to ensure that the crypto industry in Russia can continue to grow and develop in a responsible and transparent manner. The organization believes that its inclusion in the working group that is drafting the legislation that will regulate cryptocurrencies in Russia is crucial to achieving this goal.
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