Deputy General Director for Communications at Bitriver

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By introducing two registers, the Federal Tax Service will identify all mining entities and ensure transparency in their work," said Timofey Semenov, CEO of Itelion Data Systems LLC. "In Russia, there are public companies - industrial mining operators that own the infrastructure for hosting mining equipment, but not the equipment itself. In essence, this is a colocation service that consolidates a large number of clients in one place - equipment owners who are the final beneficiaries of mining and receive bitcoins. This is where the different functions and rules of operation come from."

Timofey Semenov has armenia whatsapp number databa se no doubt that in the future many operators themselves will be on the lists of miners, and this will happen everywhere. He noted that Itelion is one of them.

Rus LLC Oleg Ogienko agrees with him. He called the division of registries into "miner" and "operator" logical and said that American operators are engaged in both colocation and mining.

"There are operators in the US who own the data center infrastructure and who own mining equipment. For them, this is a way to diversify their business and reduce risks. On the one hand, the volatility of cryptocurrencies plays a smaller role, and on the other hand, the marginality increases slightly," Oleg Ogienko noted.

Taxation of persons from the registers
The second important topic of Alexey Katyayev's speech was the issue of taxation. He said that the final decision has not yet been made, but an option is being considered in which companies and individuals from the registers will pay taxes according to the "classic" scheme, but with certain reservations.

"The income tax will be paid in two stages, at the moment of crediting the mined cryptocurrency to the address-identifier, the tax base will be calculated when the miner has the opportunity to dispose of this cryptocurrency. We call this stage the advance payment. The second stage is the moment of sale of this cryptocurrency. If the cryptocurrency has risen in price during the paid period, then the company will pay tax on the missing profit, if it has fallen in price, then it will be able to put this as a loss for itself," he said.

Alexey Katyayev noted that the base will be very narrow, and if a company is engaged in production separate from mining, then losses from it cannot be transferred to mining and vice versa. According to him, mining will not be subject to VAT, since cryptocurrency is not needed within the country. Miners will pay income tax and personal income tax if they are individuals.