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The Russian government is tightening its grip on the cryptocurrency market in order to track down and prevent tax evasion.

In Russia, the crypto market is being closely scrutinized by the government, which is attempting to prevent people from dodging taxes by utilizing untraceable cryptocurrency. Danniil Egorov, the head of the Russian Federal Taxation Service (FNS), highlighted worries in an interview about the harmful impact that cryptocurrencies may have on the national budget if they are not adequately managed. These decentralized crypto coins, according to Egorov, have the potential to cause "substantial erosion" of Russia's tax base. The FNS is currently looking at measures to combat crypto tax evasion as well.

Russian Duma Regulating Crypto Mining As Business

Russian lawmakers are currently considering recognizing the cryptocurrency mining industry as a form of business.

Hermitage Raised $440K Via Binance NFT Auction

There is a major state-backed museum that is greatly benefiting from the crypto industry just by raising hundreds and thousands of dollars with the help of these NFTs.

Russian Man Stole A Friend’s Mining Rig, Gets Three-Year Sentence

The authorities of the Zavolzhsky region of Russia have found a 34-year-old local resident guilty of stealing crypto mining equipment.

New Project Aiming Towards Bringing Global Crypto Miners To Russia

A prime cryptocurrency and blockchain association in Russia is planning to launch a project.
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