Amid the growing adoption of cryptocurrency reserves in countries like the United States, legal activists in Russia are pushing to create a potential crypto fund.
Evgeny Masharov, a member of the Russian Civic Chamber, has proposed creating a government cryptocurrency fund that would include assets confiscated from criminal proceedings.
The projected cryptocurrency fund would aim for revenues for the government, targeting social projects, Masharov said, according to a March 20 report by the local news agency TASS.
“The proceeds from the cryptocurrency fund can then be used for social, environmental and educational projects,” he reportedly stated.
“Seized crypto should benefit the state”
Masharov’s proposal came amid Russian officials progressing with new legislation on recognizing cryptocurrencies as property for the purposes of criminal procedure legislation.
Alexander Bastrykin, Chairman of Russia’s Investigative Committee, said that a related draft bill was sent to the government for consideration, the local news agency RBC <a data-ct-non-breakable="null"