The Russian government's Committee on Legislative Activities advanced a bill on cryptocurrency taxation on November 11, 2024. The bill defines cryptocurrencies as property and sets different tax requirements for individual and corporate miners. According to the new regulations, companies need to register with the Federal Tax Service to legally carry out mining operations, while individuals with monthly electricity consumption below 6,000 kWh do not need to register. The new framework adopts a two-stage taxation model: the first stage is taxed when the cryptocurrency arrives, and the tax base is calculated according to the closing price of the main exchange; the second stage is taxed at the time of sale, and if the selling price is higher than the initial taxable value, additional taxes will be levied. From 2024, individual traders and miners with an annual income of more than 2.40 million rubles will be taxed at a progressive rate of 13% to 22%, and the corporate tax rate will be increased to 25% in 2025. According to the Industrial Mining Association, these tax measures can bring 50 billion rubles (about 521 million dollars) to the budget each year.