In early April, State Duma deputy Anatoly Aksakov announced the intention of the lower house of parliament to adopt a law on the regulation of the cryptocurrency market before the end of the spring session.
However, the main question remains unresolved, which agency will be empowered to control transactions with digital assets.
Parliamentarian Andrei Lugovoi told reporters last week that the Federal Tax Service would be able to perform regulatory functions.
Lugovoy leads the Expert Council under the working group on legislative regulation of cryptocurrency. In his opinion, the Bank of Russia will not be able to carry out supervisory functions.
The MP said:
There are several contenders for the status of a regulator in this area. In my opinion, the FTS is best suited for this role. Digital currency is property, but its use as a means of payment in our country is prohibited. The Federal Tax Service has experience in exercising control over bookmakers and lottery organizers.
Lugovoy believes that the staff of the tax service will need to be increased. It will need specialists in cryptocurrencies and blockchain technologies.