Russia Weighs State Crypto Bank to Rein in Fraud and Aid Miners

Russia Weighs State Crypto Bank to Rein in Fraud and Aid Miners

Russia is exploring the possibility of launching a state-controlled crypto bank, a move aimed at combating financial crime and supporting the domestic crypto mining sector. The proposal, backed by Civic Chamber member Evgeny Masharov, suggests integrating crypto operations into the formal banking system through a major financial institution. Masharov believes the initiative could legalize “shadow” transactions, bolster federal revenues, and c...

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