Banks of the Russian Federation were offered to charge a commission from holders of cryptocurrencies

Russian banks can cover the costs of integrating a system for controlling the circulation of cryptocurrencies at the expense of users. This was stated by the President of the Association of Russian Banks (ARB) Garegin Tosunyan, write “News”.

A number of credit institutions have already declared their readiness to control the circulation of digital currencies. However, they believe that this will require significant costs for the integration of the service, the purchase of software, automation, the staff of financial monitoring and the compliance department.

According to Tosunyan, banks will be able to compensate for the costs of implementing a new system for exercising control through commissions for cryptocurrency holders.

First of all, the largest market participants will take over the new sector, for them the share of expenses for technical support will be less significant than for the rest. It could take them several months to create such a system, he believes.

The President of the ARB added that banks should not have technical problems with controlling transactions, conversion or settlements. He did not rule out that exchanges would be able to participate in this process by determining quotes, supply and demand.

Recall that the concept of legislative regulation of the circulation of cryptocurrencies approved by the government provides for strict obligations for all market participants. In addition to licensing exchanges and exchangers, all transactions are proposed to be carried out through the banking infrastructure.

According to the head of the Central Bank of the Russian Federation, Elvira Nabiullina, the legalization of cryptocurrencies and the involvement of commercial banks in the market are fraught with large-scale participation of financial institutions in laundering and cashing out funds.

Earlier, experts told Cryplogger about the risks of making bitcoin transactions through banks.

Russian banks can cover the costs of integrating a system for controlling the circulation of cryptocurrencies at the expense of users. This was stated by the President of the Association of Russian Banks (ARB) Garegin Tosunyan, write “News”.

A number of credit institutions have already declared their readiness to control the circulation of digital currencies. However, they believe that this will require significant costs for the integration of the service, the purchase of software, automation, the staff of financial monitoring and the compliance department.

According to Tosunyan, banks will be able to compensate for the costs of implementing a new system for exercising control through commissions for cryptocurrency holders.

First of all, the largest market participants will take over the new sector, for them the share of expenses for technical support will be less significant than for the rest. It could take them several months to create such a system, he believes.

The President of the ARB added that banks should not have technical problems with controlling transactions, conversion or settlements. He did not rule out that exchanges would be able to participate in this process by determining quotes, supply and demand.

Recall that the concept of legislative regulation of the circulation of cryptocurrencies approved by the government provides for strict obligations for all market participants. In addition to licensing exchanges and exchangers, all transactions are proposed to be carried out through the banking infrastructure.

According to the head of the Central Bank of the Russian Federation, Elvira Nabiullina, the legalization of cryptocurrencies and the involvement of commercial banks in the market are fraught with large-scale participation of financial institutions in laundering and cashing out funds.

Earlier, experts told Cryplogger about the risks of making bitcoin transactions through banks.