# Sanctioned States Build Regulated Crypto Channels

States cut off from Western correspondent banking will keep placing crypto inside state-supervised banks to settle trade outside the US banking system, while still relying on dollar-pegged tokens. That erodes the reach of dollar banking faster than it erodes the dollar itself.

- Conviction: 40 / 100 (forming)
- Horizon: Emerging (watchlist)
- Tracking since: 2026-10-15T00:00:00.000Z
- Last updated: 2026-10-15T06:44:28.261Z
- Canonical: https://polylog.news/trends/sanctioned-states-crypto-rails
- Publisher: Polylog
- Affected regions: Russia / Ukraine

## Recent evidence

- [confirms] Russia's central bank clears Sberbank to trade crypto, with tight limits on retail buyers and broker lending (2026-10-15): Russia's central bank cleared Sberbank to trade crypto, with tight limits on retail buyers and a ban on brokers borrowing tokens. Sberbank plans bitcoin products in December and is testing tokens that include the dollar-pegged Tether. A sanctioned state is placing crypto inside a state-supervised bank while still relying on a dollar stablecoin, exactly as the thesis describes.