CRYPTOCURRENCY AS AN OBJECT OF TAXATION

The article discusses the features of the tax and legal regulation of cryptocurrencies, an attempt is made to expand the classification of cryptocurrencies, based on the study of the classification of cryptocurrencies used in the legislation of the Russian Federation, taking into account the established practice and foreign experience. The article raises the main problem related to the definition of the object of taxation when conducting transactions using “cryptocurrency”. The question of which types of cryptocurrencies can be the object of taxation, and which cannot, is investigated. The objects highlighted by the author within this study are determined on the basis of an analysis of the practical activities of cryptocurrency market subjects. A study of the positions of leading tax law experts regarding the definition of “cryptocurrency” is conducted in order to identify the main features of certain types of cryptocurrencies, which would allow a legal definition of the objects on the market of cryptocurrency circulation. A study of the legislation of the Russian Federation regarding the definition of the concept of “cryptocurrencies” is conducted. In addition, the draft law, which has been adopted in the first reading in the State Duma of the Russian Federation, is analyzed. The experience of foreign legal regulation of cryptocurrency circulation, in particular the classification of cryptocurrencies in the Swiss Confederation is investigated. Foreign experience has been used by the author when formulating the results of this study. As a result of the study, the author identifies three independent objects circulating on the cryptocurrency market, each of which should be given a legal definition. The objects identified by the author differ significantly in their characteristics, in this regard, the conclusion is made that it is necessary to formulate a legal definition for each of them, as it directly affects the tax and legal regime of circulation of cryptocurrencies in the Russian Federation.

tax and legal regulation, taxation, cryptocurrency, blockchain, token, digital financial asset, digital currency, taxable object, mining, service token, ICO, FINMA

Titorenko S. K. Cryptocurrency as an object of taxation. Business. Education. Law, 2021, no. 4, pp. 283—288. DOI: 10.25683/VOLBI.2021.57.475.