Russia’s central bank added Sberbank to its register of licensed crypto‑exchange entities, expanding the list of banks authorized to handle digital currencies. The move follows recent legislation that legalised crypto trading and gave banks permission to custody and record‑keep Bitcoin and other tokens.
Market Impact
- Cost of capital for crypto projects in Russia may drop as banks now provide formal exchange and custodial services.
- Investor sentiment improves; domestic and regional traders see reduced regulatory risk.
- Bitcoin (BTC) is the primary asset affected, with potential modest price uplift in ruble‑denominated markets.
Key Takeaways
- Sberbank joins eight banks, including VTB, on the Central Bank’s crypto‑exchange register.
- New Russian law (effective Sep 1) creates a legal framework for crypto custody, trading, and digital depositories.
- Unqualified investors can now buy up to 300,000 RUB (~$3,600) of crypto per year, widening retail participation.
Analyzed by FNXT Experts