At present, cryptocurrencies don’t have any legal status and are not regulated in Russia. Yet a company called Artel has managed to officially add bitcoin to its authorized equity capital. Not without giving the entity a hard time, the country’s Federal Tax Service eventually agreed to register the change in its status.
According to experts consulted by the Russian business daily Kommersant, the case will not have an immediate effect on the treatment of cryptocurrencies by the state, but it will expand their legal use.
Russian tax authority registers crypto as part of a company’s capitalRead More
