Russia's Ministry of Finance recently released guidance letter No. 03-08-13/114723, which clarifies the taxation of income from digital financial assets derived by foreign companies. The letter first explains that, as per Federal Law No. 259-FZ of 31 July 2020, digital financial assets are digital rights that include monetary claims, the ability to exercise rights over securities, the right to participate in the capital of a non-public joint-stock company, the right to demand the transfer of issuable securities, and assets that can be issued, recorded, and circulated only by making (changing) entries in an information system based on a distributed ledger,...