Daniil Egorov, the head of Russia's Federal Tax Service, has expressed the need for infrastructure for cryptocurrency exchange within the country. His statements come amid discussions on the legalization of digital asset trading.
Tax Authority's Position
Daniil Egorov, head of the Federal Tax Service (FNS), noted that with the legalization of cryptocurrency mining in Russia, miners should be allowed to legally sell their digital assets. He emphasized that allowing crypto sales is crucial for the development of the industry.
> "Naturally, there must be some kind of infrastructure on the territory of Russia, so that if they mined it legally, they could sell it legally," – Egorov emphasized.
Discussions on Crypto Exchanges in Russia
Deputy Finance Minister Ivan Chebeskov revealed that the Ministry of Finance and the Bank of Russia are discussing the legalization of cryptocurrency trading platforms. This initiative is part of an experimental legal framework (ELR) for cryptocurrency operations in Russia. Chebeskov indicated that there is currently no infrastructure to support cryptocurrency trading in the country.
Prospects of Legalizing Cryptocurrency Exchange
Financial regulators believe that access to cryptocurrency trading should be restricted to "highly qualified" investors. Chebeskov pointed out that any ban on trading cryptocurrency could negatively impact ordinary citizens who are actively using digital currencies.
The discussions regarding the legalization of cryptocurrency exchange in Russia are taking place against the backdrop of increasing activity in the mining sector. Creating the necessary infrastructure might contribute to the industry's growth and improve conditions for market participants.
