A court in the Rostov region has ruled that peer-to-peer transactions for cryptocurrency purchases and sales constitute business activity, requiring taxation.
Court Case on P2P Transactions
The Arbitration Court of the Rostov Oblast determined that cryptocurrency trades conducted on a peer-to-peer basis represent business. This ruling was implemented in the context of the case concerning trader Dmitry Nikityuk.
The Case of Dmitry Nikityuk
Dmitry Nikityuk, registered as an individual entrepreneur, reported an income of 800,000 rubles but was fined for inaccurate reporting following an investigation by the Federal Tax Service. It was revealed that 143 million rubles passed through his accounts, with 92.5 million declared taxable.
Wider Implications for the Crypto Industry
Experts emphasize that this court decision could impact not only private traders but also the entire cryptocurrency industry in Russia. The judicial ruling establishes criteria under which regular profitable operations may be classified as entrepreneurial activities.
Thus, the Rostov court decision highlights the need for compliance with tax obligations in the cryptocurrency sector and may set a precedent for similar cases in the future.
