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Russia Officially Classifies Bitcoin As Property With New Legislation Signed By Putin

  • Russia officially classifies Bitcoin as property with new legislation signed by Putin.
  • The law recognizes digital currencies, including Bitcoin, as property and sets the stage for formal taxation.
  • Mining and selling digital currencies will be exempt from value-added tax (VAT), incentivizing investment in the crypto market.
  • The law establishes a two-tier taxation system for cryptocurrency income, with a 25% tax rate for corporations engaged in Bitcoin mining starting in 2025.

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