Russia’s consideration of a crypto bank to tackle fraud and support miners

Evgeny Masharov from the Russian Civic Chamber advocates for a crypto bank to mitigate illicit transactions and aid miners in cashing out their earnings. This bank would help integrate shadow transactions legally and bolster federal income.

The Russian government aims to combat fraud through a regulated framework and plans to implement a model inspired by Belarus. Despite past crypto payment bans, the country is increasingly open to the crypto sector in light of geopolitical challenges.