Bitcoin is closing out one of its most remarkable months in history, surging over $30,000 in November and marking a renewed bullish sentiment in the market. As we look ahead to December and beyond, investors are eager to understand whether Bitcoin’s momentum can sustain itself into 2025. With macroeconomic conditions, historical trends, and on-chain data aligning in Bitcoin’s favor, let’s analyze what’s happening and what it could mean for the future.

November’s Record-Breaking Performance

November 2024 wasn’t just any month for Bitcoin; it was historic. Bitcoin’s price rose from around $67,000 to nearly $100,000, an approximate 50% peak-to-trough increase, making it the…

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Russian President Vladimir Putin has signed a law officially recognizing digital currencies as property for foreign trade settlements. The law also exempts crypto mining and sales from value-added tax (VAT) and introduces a taxation framework for mining income and crypto trading.

Under the new experimental legal regime (ELR), mining income will be taxed as “income in kind,” with deductions for expenses. Individual crypto trading income will be taxed at 13% for earnings up to 2.4 million rubles and 15% for higher amounts, while corporate mining profits will face a 25% tax rate starting in 2025. However, miners and traders are barred from preferential tax regimes such as simplified or agricultural tax systems.

The law also mandates reporting obligations for mining operators, with fines of 40,000 rubles for non-compliance. This legislation builds on prior regulations from August, requiring mining operations to be conducted by registered entities. It signals Russia’s attempt to formalize and regulate its growing digital currency sector.