Russian lawmaker pushes for creation of national crypto bank
Yevgeny Masharov says a crypto bank would bring billions in transactions into the legal economy while curbing the use of illicit exchanges.
A senior Russian policymaker has proposed the creation of a national crypto bank, arguing it would raise state revenues and help curb financial crime.
Yevgeny Masharov, a member of the Public Chamber of the Russian Federation, said a national crypto bank would bring vast sums of crypto into the legal economy. He added that lawmakers also aim to ban quasi-legal exchanges while exploring the launch of state-run trading platforms.
Masharov suggested that a crypto bank could be a tool against online fraud, particularly schemes involving ‘droppers’ who launder cash and crypto for criminals. He argued that by keeping transactions within an official system, authorities would have more control over illicit flows.
The initiative follows similar moves in Belarus, where President Alexander Lukashenko has instructed officials to accelerate work on a national crypto bank. Moscow also views such a project as a way to support miners, enable safer cross-border payments, and reduce reliance on Western-controlled financial networks.
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