Crypto Summit 2025 Highlights: Key Topics and Issues

This week we took part in the crypto summit and spoke with both businesses and government representatives. Here are the main trends, issues, and “grey areas” that were brought up:

🔹 Gas-powered generator mining is actively developing. Key questions being raised: Is registration in the official registry required? Is it legal to mine in “restricted” regions? Clear answers are still lacking.

🔹 VAT for miners remains a pressing issue. Since mining is exempt from VAT, miners cannot claim input tax deductions — including on equipment — which creates significant challenges.

🔹 Crypto exchange regulation is still in its early stages. Although the government is discussing legal frameworks, in our view, it's too early to expect clarity. As a result, we continue working with foreign platforms, accepting the associated risks.

🔹 Crypto in foreign trade is already solving many real-world problems, and no immediate restrictions are expected. However, the idea of a unified BRICS digital currency (CBDC) is off the table for now — it's not happening.

🔹 Exiting the “grey” zone: The Federal Tax Service (FTS) and other tax authorities are increasingly providing guidance and support to help miners and infrastructure operators legalize their operations. We've seen this firsthand.