In Russia there is a request for free economic zones, tax-free for crypto business

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3 months ago
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The Russian business community proposes to create crypto offshores in the country. New “Crypto Valleys” are allegedly planned to be established in Kaliningrad and Primorsky District.

This initiative was initiated by the Association of Entrepreneurs for the Development of Business-Patriotism “AVANTI”, which sent corresponding appeals to the national Deputy Prime Minister Maxim Akimov, the head of the Ministry of Economy Development Maxim Oreshkin, the governors of the Kaliningrad region and Primorsky Territory and many other higher ups.

The entrepreneurs intend to organize these economic zones with the aim of accumulating in the territory of the Russian Federation the world experience in crypto industry.

In addition, to boost the domestic digital economy and new markets within the designated territories, it is proposed to abolish taxes on crypto operations, mining and digital assets trading. It is also proposed to exempt from income tax, VAT and profit tax all individuals and legal entities who are residents of the crypto space.