CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

Russia clears first crypto exchanges, custodians under new law

Cointelegraph logo

Published on

Add as a preferred source on Google
Russia clears first crypto exchanges, custodians under new law

Russia registered its first crypto exchanges and custodians, including its largest bank, Sberbank, which plans to launch crypto products on Dec. 1.

Russia has registered its first cryptocurrency exchange operators and digital custodians under new crypto regulations that took effect on Sept. 1.

The Bank of Russia on Tuesday published its first registers of authorized crypto operators, listing four exchange operators and five custodians.

Russia’s largest bank, Sberbank, was added to the custodian list, alongside Atomyze, Voltari and Cloud Infrastructure. T-Invest Lab, Zefir and Sistema-Crypto are on the crypto exchange operator list. VTB Bank appears on both lists.

Sberbank said on Monday that it had applied for digital custodian status and plans to launch its first crypto products on Dec. 1. The bank said it initially plans to support Bitcoin (BTC), Ether (ETH) and USDt (USDT) through its existing SberBank Online, SberInvestments and SberBusiness platforms.

The registrations come after Russian President Vladimir Putin signed a crypto law in August that created a regulated framework for exchanges, custodians, brokers and investors. The law puts the market under the Bank of Russia’s oversight and maintains Russia’s ban on using crypto to pay for goods and services.

Related: Russia’s digital ruble accounts top 220K in first month, nearly 4X central bank forecast



Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.