Russian Government Suggests Tax Cuts For Long-Term Digital Asset Holders

The Bank of Russia has suggested that it might consider tax cuts for long-term digital asset holders, as a way to encourage their use.

According to a report from Business Insider, the central bank's proposal on Friday was met with a mixed response from cryptocurrency investors.

While some agreed that the move would be positive for the industry in general, others argued that it could lead to reduced revenue and higher fees for banks. In addition, there is also concern that the proposed measure would encourage further speculation in digital assets.