Yevgeny Masharov of Russia’s Public Chamber suggests a state-run crypto bank to increase tax revenues, combat fraud, and regulate crypto transactions amid sanctions and rising digital asset use.
Yevgeny Masharov, a member of Russia’s Public Chamber, has proposed the creation of a national crypto bank to regulate billions of rubles in grey market crypto transactions, raise fiscal revenue, and combat fraud. Drawing inspiration from Belarus, the bank would help miners sell coins domestically, facilitate cross-border trade, and reduce risks linked to illicit transactions. The proposal comes amid rising reliance on digital assets due to sanctions and exclusion from the SWIFT network.