Catenaa, Saturday, September 13, 202-A leading Russian policymaker called for the creation of a state-run “national crypto bank” to boost federal revenues, increase transparency, and combat online financial fraud.
Yevgeny Masharov, a member of the Public Chamber’s commission on regulatory drafts, argued that the bank would bring hundreds of billions of rubles in crypto transactions into the legal sector.
He said the initiative could reduce fraud from “droppers,” illicit crypto intermediaries who launder money through wallets, and provide infrastructure for miners to sell coins domestically.
Masharov noted that similar projects are underway in Belarus, where lawmakers aim to establish a national crypto bank to strengthen regulatory oversight and industry growth.
He added that Russian firms could benefit from safer cross-border transactions if crypto activity is centralized under a government-controlled institution.
The proposal comes amid Russia’s disconnection from the SWIFT network and ongoing international sanctions, driving firms to rely on crypto for trade outside formal banking channels.
Lawmakers have also explored banning quasi-legal exchanges and allowing Treasury authorities to seize tokens from illegal mining operations.
Moscow’s push for a national crypto bank reflects a growing trend among governments in Eastern Europe and Asia to harness digital assets for economic and security purposes while countering illicit financial activity.
