Russia is actively taking steps to regulate its cryptocurrency industry with the Federal Tax Service taking on a key role in the process. Through this, the country is introducing a multi-tiered system that looks to ensure that the cryptocurrency market is secure and transparent for all the stakeholders involved. The primary regulator for ordinary citizens will be the Federal Tax Service. This initiative seeks to ensure that their activities related to cryptocurrencies are compliant with the tax laws of Russia. By taking such measures, the government is showing its commitment to create a better and more responsible cryptocurrency ecosystem in the country.



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