Proposal for National Crypto Bank in Russia to Combat Financial Crimes

According to Foresight News, Evgeny Morozov, a member of the Russian Civic Chamber, has proposed the establishment of a national cryptocurrency bank in Russia, inspired by Belarus's model. Morozov suggests that such an institution could help integrate the shadow economy, worth billions of rubles, into the legal framework, thereby increasing federal budget revenues and combating remote fraud and criminal financing. The proposed crypto bank would also provide Russian miners with a legal avenue to sell their mined assets. Belarus has already set up cryptocurrency exchanges and brokers within its High-Tech Park, achieving both the decriminalization of digital currencies and an increase in tax revenues.