Russia Eyes National Crypto Bank to Back Miners and Combat Fraud

Russia's latest crypto move shakes the financial landscape—proposing a state-backed digital asset bank aimed squarely at empowering miners and cracking down on fraud.

Fueling the Mining Surge

The initiative promises dedicated support for blockchain validators, offering streamlined access to capital and infrastructure. No more scrambling for liquidity—miners get a centralized hub designed to turbocharge operations.

Fraud Fight Goes Official

Regulatory teeth come with the territory. The bank plans to enforce stringent KYC and anti-money laundering protocols, targeting shady transactions head-on. Finally, a legit counterpunch against crypto’s wild west reputation.

Because nothing says ‘trust us’ like a government-backed crypto bank—just ask your traditional finance portfolio how that’s worked out before.

In brief

• Russia is considering a state crypto-bank to legalize flows and increase its tax revenues.
• The initiative aims to support miners, in addition to reducing dependence on Western financial networks.

A tool to legalize flows and contain crypto fraud

The idea of a banking institution dedicated to crypto-assets comes from Evgeny Masharov, a member of the Russian Public Chamber. Specifically, he suggests towhich already regulates these activities through its technology parks.

In Russia, volumes from the grey market WOULD reach several billion rubles. Thewould therefore allow these flows to be integrated into the legal economy. But not only that ! It would also increase the country’s tax revenues.

Masharov clarifies however that only Russian citizens could fund their accounts in rubles. Also, the institution would operate only through official channels.

to fight against fraud related to illegal crypto platforms and laundering via ” droppers “.

An economic and strategic response to sanctions

This crypto-bank would also aim to reduce dependence on Western banking networks, especially for cross-border payments. Coupled with a stablecoin project indexed to the ruble, it would strengthen.

Masharov also sees it as a lever to support the local mining industry, still active despite regional restrictions. Due to lack of legal sales channels, Russian miners often resort to unofficial circuits. A dedicated institution would therefore provide.

The lack of infrastructure and current regulatory constraints however limit the immediate feasibility of the project. Its realization will depend on alignment :

• political ;
• technical ;
• legislative.

Between the desire for control and economic strategy, Russia is thus exploring a new model to integrate cryptocurrencies. If the project progresses, it could redefine relations between the State, technology, and finance in the country. To be continued…

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