Russia Chief Tax Officer Makes Statement on Taxation of Cryptocurrencies

In an interview with the Russian news agency, Daniil Egorov, Head of the Russian Federal Tax Service, said that cryptocurrencies can lead to tax evasion and that a solution-oriented approach should be taken.

Egorov stated that they follow the crypto money market closely and that the taxation of cryptocurrencies should be done strategically. He said that since crypto money transactions can be tracked, they also demanded the introduction of automatic tracking systems for cryptocurrencies.

Saying that they want to find solutions to prevent cryptocurrencies from causing tax evasion, Egorov stated that instead of preventing this field of activity, solutions that close the problems should be developed.

In addition to these statements, Egorov also stated that the Federal Tax Service uses blockchain technology to store electronic power of attorneys.

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