Russian Banking Association (ABR) proposes taxation on cryptocurrency mining

According to Bitcoinist, the Russian Banking Association (ABR) proposed taxation on cryptocurrency mining. The association prepared a report that compared encrypted mining with treasure hunt. Therefore, the association recommends that the government levy taxes on encrypted mining, just like the taxation of discovered treasures. ABR members will discuss the proposal on the Association's website on October 8. The authors of the report pointed out that operations performed using cryptocurrencies should be taxed as transaction profits in accordance with tax laws. The Central Bank of Russia has never welcomed digital assets and even proposed to ban the use of digital assets. However, the authors of the ABR report believe that the ban on cryptocurrency operations is dangerous. To avoid using bitcoin-like currencies in criminal programs, the government can ban anonymous transactions.