Seems like you are a big supporter of DeFi platforms. You also know about the financial and taxation system in Russia so it is clear that most of your merits come from Russian users who are finding it good to invest in stablecoins or use DeFi platforms. Can you explain that why exactly are stablecoins and DeFi gaining popularity in your home country? Can that be attributed to the fact that most normal transactions and finances in Russia may very well be too strictly controlled? The trades happening on these platforms is big-ticket Russians or the common people?
Considering that the forum has been banned there, it is quite evident that this cryptocurrencies is scaring the authorities. Can you elaborate a bit on these issues for non-russian users to get a grasp of what exactly significant is going on there.
In Russia, there are still no laws on cryptocurrency
Cryptocurrency is not taxed. Taxes need to be paid only when exchanging cryptocurrency for fiat. You can absolutely legally store cryptocurrency, exchange it for other coins and tokens and not pay taxes.Or pay 4% of taxes on the amount when exchanging for fiat as a self-employed citizen.
Tax control is being strengthened in all countries. If more than 600,000 rubles ($ 8,100) are received per month in a Russian citizen’s current account or there is a constant flow of money to a current account, then a citizen can be called to the tax authorities to provide clarification and verification.
But if we compare the tax laws of the United States, Europe and Russia, then Russia has the weakest control.
The forum in Russia is not prohibited and cryptocurrency is not prohibited. In Russia, there is a practice of blocking the entire resource, if there is information about the crypto casino.
If someone thinks that "cryptocurrency scares the Russian authorities" - this is a mistake. If you write a list of problems in the Russian Federation, then the cryptocurrency problem will be very far from the beginning of the list
We have the best tax legislation. Miners, traders, crypto enthusiasts pay taxes only when exchanging for fiat.
Therefore, I constantly monitor Russian law. I abide by the law of my country.
USDT,USDC it is a digital dollar. It is very comfortable.