Is it legal to mine (mine) currency in Russia?

[KrisMor]

The law does not prohibit crypto mining in Russia. Moreover, according to the legislation, a crypt will be considered issued in the Russian Federation if the equipment is located in Russia and / or a connection is used through national domain and network addresses (paragraph 1 of Article 14 of the Law). By itself, this does not play a role so far, but in the future it may be a significant sign in legal regulation, taxation of mining.

How can an individual pay tax when mining and buying and selling cryptocurrency?
At the moment, the legislation does not contain special rules regarding the taxation of transactions with digital currency, there is only a draft of such amendments to the Tax Code. Earlier, the Ministry of Finance in its letters explained that while there are no special rules, you need to be guided by the usual rules of taxation of income received by individuals and organizations. That is, for individuals it is 13% of personal income tax from the income received. Income will be considered the difference between the proceeds received from the sale and the costs of buying or creating a crypt. But if everything is obvious with the income that you received to your account or card, then problems may arise with the confirmation of expenses: the purchase must be confirmed by documents (agreement, transfer deed, payment document), as well as mining costs. If you do not confirm expenses, you will have to pay tax on all proceeds.

When you exchange crypto for fiat money, you have the obligation to file a 3-NDFL return with the tax authorities by April 30 of the next year and by 15 July to pay tax.

If transactions for the sale of cryptocurrency are regular, then they can be recognized as an entrepreneurial activity. In this case, it makes sense to register an individual entrepreneur and pay tax on income under the simplified tax system.

In any case, now in Russia we have uncertainty with the procedure for taxing such transactions, there is no judicial practice, clear explanations of the tax authorities. But, perhaps, this issue will soon become clear - at the beginning of 2021, the State Duma adopted in the first reading a draft of amendments to the legislation on taxation of cryptocurrency transactions.

[CarlMax]

I dont know about Russia since I am from Bangladesh, and here we are doing FX trading smoothly. Currently, we are using FreshForex Classic Account, where 1$ is the minimum deposit needed.