Den

Russian President Putin officially signed the digital currency taxation law, recognizing digital currency as property

ChainCatcher news, according to TASS, Russian President Vladimir Putin has signed a law regulating the taxation of digital currencies.According to the law, digital currencies are recognized as property. This also applies to currencies used for foreign trade payments within the framework of the "Experimental Legal Regime (EPR) in the field of digital innovation." The mining and sale of digital currencies are exempt from value-added tax. Operators of mining infrastructure must report to the tax authorities the issuance of cryptocurrencies using their services. Failure to timely transmit such information may result in a fine of 40,000 rubles.In terms of personal income tax, digital currencies obtained through mining will be classified as tangible income (a term typically used when payment is made using goods or services rather than currency). The value of the income will be determined based on market quotes. Such income will be taxed at the usual progressive tax rates, taking into account tax deductions for the amount of mining expenses.At the same time, income from the acquisition, sale, or other circulation of digital currencies will be taxed at a two-tier personal income tax rate (13% for income up to 2.4 million rubles, and 15% for income exceeding this amount). They will be included in the same tax base as income from transactions with securities, bank deposits, and other sources. Regarding corporate income tax, digital currency mining will be taxed at the standard rate (25% starting in 2025).

The Singapore government reminds citizens to be vigilant against cryptocurrency theft incidents

ChainCatcher news, according to 8world, the Singapore Police Force and the Cyber Security Agency issued a joint statement indicating that recently, criminals have been observed using various methods to steal cryptocurrency from victims' wallets. Their common tactics include:Impersonating legitimate entities on social media, using giveaways or promotional activities as bait, and asking victims to "verify" their wallets by sharing login credentials and other personal information.Criminals may also impersonate the owners of cryptocurrency companies, sending malicious links under the pretext of assessing the victims' capabilities in the blockchain field. Once clicked, these links automatically transfer cryptocurrency from the victims' wallets.Additionally, criminals may exploit phishing websites, software vulnerabilities, smart contracts, etc., to invade victims' wallets and steal cryptocurrency.Singapore government agencies urge the public to take preventive measures to protect their wallets, such as: using hardware wallets and other secure offline storage devices; employing strong passwords and two-factor authentication; and regularly checking accounts.If you suspect that you have become a victim, you should immediately contact the cryptocurrency exchange to stop trading or freeze your account if possible; check and revoke any suspicious token authorizations; promptly transfer any remaining cryptocurrency from the affected wallet to another wallet; and report to the relevant authorities.
ChainCatcher Building the Web3 world with innovators