With the State Duma’s ratification of a protocol on October 28, 2026, Russia and Belarus have established common ground for the taxation of digital assets. The protocol, which was first signed on July 16, is intended to align the two countries’ VAT benefits and provide a more coordinated framework for crypto regulation.
A New Framework: Protocol Details and Timeline
As discussed on Pro Blockchain Media Live, the purpose of the agreement is to resolve any discrepancies between what the bilateral accord stipulates and domestic tax rules regarding VAT exemptions. The October ratification by the Duma is seen as an important step in that direction.
Under the terms of the new protocol, both nations will coordinate their tax reliefs, which should make it easier for cross-border crypto businesses and prevent legal issues that can arise from uncoordinated policy. This is already the case in Russia where, since the start of 2025, sales or mining of digital currencies are not subject to VAT.
Regulatory Changes Ahead: Impact on P2P and Licensed Platforms
The protocol also signals a firmer approach to digital asset flows. In Russia, major regulatory changes are coming; starting July 1, 2027, P2P crypto transactions will be prohibited. Users will have to go through licensed brokers and exchanges to access bitcoin and similar assets. An analysis on Pro Blockchain Media Live notes that the ban even covers the use of unregulated wallets for withdrawals, aiming to keep all crypto activity within the financial system under supervision, similar to measures in other jurisdictions to combat illicit finance and provide clarity.
Tax Obligations Remain: Income and Profit Tax Considerations
That does not mean crypto income is now tax free. Individuals and firms in either country will still be liable for corporate profit or personal income tax as their activities and volumes require, according to Pro Blockchain Media Live. But with the protocol ratified, those taxes will be levied based on transparent and fair rules, removing uncertainty for market participants. It is a measured way of supporting the growth of the digital asset market in both countries while safeguarding tax revenues to the standard the two have agreed upon.
Explore how the new crypto taxation protocols in Russia and Belarus might impact your opportunities with a crypto prop firm. crypto prop firm benefits.
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