Russia vs United States

Russia's crypto regulation is complex and evolving. The 2021 'On Digital Financial Assets' law recognizes crypto as property but bans its use as a means of payment. Mining was legalized and regulated in 2024 under a new mining law. Crypto is taxed as income at 13-15%. The CBR pushed for a total ban on crypto trading but was overruled by the government, which favors regulation. International sanctions have complicated Russia's crypto landscape.

The United States has the world's most complex crypto regulatory landscape, with overlapping federal and state jurisdictions. The SEC regulates crypto securities and has pursued enforcement actions against exchanges and token issuers. The CFTC oversees crypto derivatives and considers Bitcoin a commodity. FinCEN applies BSA requirements to crypto exchanges as money service businesses. The IRS taxes crypto as property: short-term gains at income tax rates (10-37%), long-term gains at 0-20%. New 1099-DA broker reporting rules take effect from 2025. Multiple states have their own requirements, with New York's BitLicense being the most stringent.