Russian Government to Issue Crypto Tax Law

According to Deputy Minister of Finances of the Russian Federation, at the moment, the law is in the process of discussion
25 January 2018   779

The draft law on the regulation of the crypto-currency market, published today, does not mention taxation. As explained in the Ministry of Finance, this issue will be considered in a separate "satellite law". This is reported by TASS.

Now, this issue is not defined in the legislation. And objectively, this is a big problem that will be worked through, of course. There will be at least some legislative framework to define in the Tax Code. Now there is a coordination of the law, but it is not yet fully discussed.

Ilya Trunin

Deputy Minister of Finances of the Russian Federation

In addition, Deputy Minister Alexei Moiseev said that in the near future the Ministry of Finance will publish a bill on monetary surrogates, including the definition of which fall
cryptocurrencies. For the use of money surrogates as a monetary means will be provided for severe sanctions.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   121

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.