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Russian Policymaker Proposes National Crypto Bank to Combat Fraud and Boost Revenue
Russian Policymaker Proposes National Crypto Bank to Combat Fraud and Boost Revenue
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BTCCSquare news:
Yevgeny Masharov, a key figure in Russia's Public Chamber, has urged the government to establish a state-run cryptocurrency bank. The initiative aims to bring billions in shadow transactions into the legal economy while increasing federal tax revenue.
The proposed institution would function as a centralized hub for crypto transactions, replacing the current patchwork of quasi-legal exchanges. Masharov argues this would enhance transparency and allow for effective taxation of digital asset trades.
This MOVE aligns with earlier discussions about creating state-controlled crypto exchanges. The Kremlin advisor emphasized that formalizing the sector could redirect hundreds of billions of rubles currently operating outside regulatory oversight.
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