Russians will pay taxes in digital rubles

Russia’s Federal Treasury may start collecting taxes from individuals’ digital ruble wallets as early as next year, Prime reports.


This decision will directly affect the digital currency market, says Michael Ross-Johnson, CEO of the Chatex p2p cryptocurrency platform.

The country is vigorously preparing for the introduction of the digital ruble; infrastructure is being created, and first payments are being made. As the Central Bank said earlier, the digital ruble will subsequently replace cash.

“The digital ruble is the third form of money (alongside cash and non-cash rubles) the government wants to introduce to be able to more closely track cash flows, and make the work of its economic agencies (state or commercial ones) more transparent,” the expert explains. “In a word, once the digital ruble is introduced, all mutual settlements between individuals and businesses, businesses and the state, and between individuals will become traceable to a much greater extent than now. The digital ruble is the national financial system’s future that’s already here.”

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