Izvestia published a statement by Garegin Tusonyan, President of the Russian Banking System Association. According to him, financial structures will be able to cover the cost of settling the system for controlling the movements of cryptocurrency at the expense of the holders themselves.

Most of the institutions expressed their readiness to carry out activities to record the turnover of the virtual currency market. To integrate the service system, organizations will need:

• additional and significant costs;
• software;
• structure automation;
• recruitment of specialists for monitoring in the financial part and in the turnover control departments.

This information was in the statement of banking structures.

The director of the ARB believes that banks will be able to make up for the costs at the expense of the owners of electronic currency, charging a certain commission for the maintenance and conduct of operations. He believes that the largest divisions of the market system will be engaged in the initial development in this area. They will be able to create a working sector within a few months. The cost of functional equipment for these parties will be lower than for other participants.

G. Tusonyan said that the participation of the exchange market in this process, which dictates supply and demand, and also sets the course, is not ruled out. According to the president, the organization of technical issues should not fail:

• transactions will be controlled without problems;
• Difficulties with calculations or conversion should not arise.

Bills to regulate the circulation of virtual currency, approved by the government, carry serious requirements for each holder. Exchangers and exchanges will undergo a licensing procedure, and transactions, according to the instructions, will have to be regulated by the infrastructure of banks.

Elvira Nabiullina, head of the Central Bank of Russia, said that the introduction of commercial banking institutions and the legalization of electronic currency will lead to the laundering and cashing of currency through the participation of financial institutions.

According to experts, making cryptocoin transactions through banks is fraught with monopolization of the segment and loss of anonymity.