A Russian advisor has proposed creating a state-backed cryptocurrency bank to legalize shadow transactions worth hundreds of billions rubles. This proposal by Evgeny Masharov, a member of the Civic Chamber’s commission for legislative review, echoes Belarus’ recent success with licensed crypto exchanges. Belarus reports $1.7 billion in processed trades within its first seven months this year, potentially reaching $3 billion in 2025 activity. Masharov suggests that such a bank would facilitate transactions through digital assets while requiring all activity to flow through customer current accounts. Russia currently maintains restrictive policies toward cryptocurrency, prohibiting crypto payments for goods and services, leaving the central bank opposed to legalizing decentralized currencies. Belarus, however, has established regulations for its digital economy over eight years ago. President Alexander Lukashenko is pushing for updates in this space, aiming to create a dedicated crypto bank by year’s end. This move follows similar efforts from the Belarusian government and their significant activity in the space.