Tax Ministry Assesses 6.7 Million Rubles in Taxes Against Cryptocurrency Company

Reform.news Editorial Team · 2 November 2026, 14:01

https://reform.news/en/tax-ministry-assesses-6-7-million-rubles-in-taxes-against-cryptocurrency-company/

The press service of the Ministry of Taxes and Duties reported on the results of an inspection of a Minsk-based company involved in cryptocurrencies.

“The organisation’s main source of income was earnings from fluctuations in the token’s exchange rate, which the crafty owner attempted to ‘hide’ from taxation by transferring funds to his personal ‘hot’ cryptocurrency wallets”, the ministry said.

The company did not prepare the relevant documentation or record transactions in its accounting records. An employee responsible for transferring the tokens was paid an undeclared salary.

The scheme was uncovered during an unscheduled inspection. Taxes totalling 6.7 million rubles were assessed, and the money has already been credited to the budget.

A criminal case has been opened against the company’s owner.