This marks the first time a major state-controlled bank in a G20 nation has proposed treating digital currencies exactly like traditional bank accounts, with identical freezing and control mechanisms. The unprecedented merger of conventional banking authority with crypto custody by Russia's largest bank creates a new hybrid system of centralized control over decentralized assets.
Russia's Sberbank Launches Digital Currency Custody: Mark System
📰 What Happened
Sberbank, Russia's largest bank, announced plans to launch crypto custody services for domestic investors, with proposals already submitted to the Russian central bank. The bank aims to regulate cryptocurrency assets like standard bank accounts, including asset freezing capabilities. Executive Director Anatoly Pronin emphasized security measures against fraud and hacking. Additionally, Sberbank is expanding its crypto offerings with a Bitcoin-linked structured bond denominated in rubles.
📖 Prophetic Significance
Sberbank's implementation of bank-level controls over crypto assets represents a crucial evolution in financial control systems. The ability to freeze digital assets through a state-controlled bank, combined with Pronin's emphasis on regulatory oversight, demonstrates how cryptocurrency's original decentralized nature is being absorbed into traditional banking structures. This aligns with Revelation's prophecies about centralized economic control, but through an unexpected hybrid model where governments co-opt rather than ban digital currencies. The ruble-based Bitcoin bond further shows how national currencies are being merged with crypto, creating new mechanisms for financial surveillance.