A top Russian policymaker, Yevgeny Masharov of the Public Chamber of the Russian Federation (OPRF), has proposed establishing a state-run “national crypto bank.” According to the Russian news agency TASS, Masharov believes this bank would increase government revenue and help combat financial crime.
Key Goals of the Proposed Bank
Masharov stated that a Russian crypto bank would solve several problems. By moving hundreds of billions of rubles’ worth of crypto transactions out of the black market and into the legal sector, the government could collect new taxes. He pointed to Belarus, where similar plans are in development, as an example.
The policymaker also argued that the bank would be a powerful tool against online fraud, specifically a type of money laundering where criminals use “droppers” to move funds into crypto wallets and then convert them into real-world assets. By restricting all crypto transactions to a state-controlled bank, Russia could better fight this type of fraud.
Benefits for Russian Businesses
Beyond fighting crime, Masharov said the bank would also help Russian Bitcoin miners and businesses. Currently, there is no legal infrastructure for miners to sell their digital assets within the country.
Additionally, with Russia disconnected from the SWIFT banking network and facing sanctions, many companies use crypto for international trade. Masharov said that a state-run crypto bank would make these transactions safer, protecting Russian firms from fraud and foreign intelligence agencies. He believes that the current lack of regulation in this area allows criminals to exploit legal loopholes.
September 2025, Cryptoniteuae
