Lack of crypto infrastructure costs Russian budget billions in lost tax revenue — ministry
In this news:
Key takeaways
- Russia loses billions in tax revenue from unlegalized crypto activity.
- Deputy Finance Minister Ivan Chebeskov urges establishing domestic crypto infrastructure.
- Russia is aligning with global trends toward cryptocurrency regulation.
MOSCOW, October 8. /TASS/. The lack of cryptocurrency infrastructure means billions in lost tax revenue for the Russian budget, Russian Deputy Finance Minister Ivan Chebeskov said.
“This represents billions in lost tax revenue for the budget because the industry does not pay these taxes. Therefore, we believe it would be logical to establish our own infrastructure to legalize these activities, understand how they operate, protect our citizens, and ensure that everything is conducted according to the rules,” he said at the Present Future forum.
The deputy minister added that Russia is following the global trend toward cryptocurrency regulation and legalization.
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