The Finance Ministry has proposed to impose a mining tax

© RIA Novosti / Evgeny to Betemporary in photobacteria for mining cryptocurrency. Archival photoThe Finance Ministry has proposed to impose a mining tax© RIA Novosti / Evgeny to Betemporary the image Bank

The Ministry of Finance of the Russian Federation envisaged in the bill about the taxation of cryptocurrency mining as entrepreneurship, told reporters on the sidelines of the Public Council under the Ministry of Finance of the Russian Federation Deputy Finance Minister Alexei Moiseev.

«We call it entrepreneurial activities, therefore, business activities can be engaged in either individual entrepreneurs or legal entities», — he explained. «If an individual entrepreneur — single tax if a legal entity — other. This is no different from business,» said the official.

In November, the first Chairman of the Central Bank of Russia Olga Skorobogatova said that mining as a business must register with and be subject to taxation. Also, she said, mining is not only the production of cryptocurrencies and a wider concept.

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