The Russian Bar Association proposes a cryptocurrency taxation system that grants property rights to token holders

According to Cryptonews, on August 1, the Russian Bar Association proposed a cryptocurrency taxation system that involves granting property rights to holders of “all tokens”. At this week's Moscow meeting, the association made the following recommendations: 1. Granting property rights to all token holders; 2. Providing tax relief to miners; 3. Exempting VAT from cryptocurrency transactions. In addition, the association also recommends that the government establish a system for measuring the value of cryptocurrencies by using the US dollar and bitcoin. Most major cryptocurrency exchanges do not provide cryptocurrency to the ruble transaction pair, so it is recommended that the court first rate the token's bitcoin price, convert it to dollars, and then convert it to ruble to assess the value of the token. The Bar Association will submit the proposal to legislators and regulators. If the regulator accepts these measures, it will not only make the cryptocurrency a legitimate foothold in the country, but also provide tax breaks for those who are trying to do business in cryptocurrency.