Russia’s largest bank, Sberbank, plans to build a complete crypto infrastructure by December, including a digital depository to track client rights and record off-blockchain transactions, as well as a Bitcoin wallet and digital asset custody services. This initiative falls under the new law « On Digital Currencies and Digital Rights » being reviewed by the State Duma, which will establish comprehensive crypto regulation in Russia. The use of cryptocurrencies as a payment method has been banned since 2022, but the country has authorized them for international settlements since 2023, allowing it to bypass Western sanctions.
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