- Development of the Cryptocurrency Miners Register
- Advantages of FTS in This Field
- Impact on the Industry
The Federal Tax Service (FTS) of the Russian Federation will develop and maintain a register of cryptocurrency miners. This decision was made to strengthen control and regulation in the field of digital currency mining.
Development of the Cryptocurrency Miners Register
The Federal Tax Service (FTS) of the Russian Federation will be responsible for the development and maintenance of a register of cryptocurrency miners. This decision was made to strengthen control and regulation in the field of digital currency mining.
Advantages of FTS in This Field
Experts consider this step correct and logical, given the high technological level of the FTS. The agency possesses significant experience working with the cryptocurrency market and miners, placing it in a more advantageous position compared to the Ministry of Digital Development, Communications, and Mass Media (MinTsifry).
Impact on the Industry
Transferring the functions of maintaining the miners' register to the FTS will enhance transparency and legality of operations in the mining sector, as well as improve interaction between the state and market participants. It is expected that this decision will become an important step toward the development and regulation of the cryptocurrency industry in Russia.
Previously, the possibility of transferring this function to the Ministry of Digital Development was discussed. However, the decision was ultimately made in favor of the FTS due to its technical capabilities and experience in this field.
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