| Mobile Web

Search results for Bank of Russia

Crypto

Russia\'s largest bank Sber to support cross-border crypto payments with 0.3 percent fee

Russia\'s largest bank Sber has begun processing cryptocurrency payments for companies engaged in overseas trade. It said crypto wallet-to-wallet transfers can be completed in minutes rather than days and the average transaction cost is about 0.3 percent, with required banking and foreign-exchange control documents generated automatically. The move comes as Russia implements its digital currency law, which legalises crypto trading but keeps a domestic payment ban while allowing cross-border settlement.

Crypto

Russia partly legalises crypto investment and trading, bars domestic payments

Russia will partly legalise cryptocurrency investment and trading from Sept. 1 local time under a new law, while keeping a ban on crypto payments inside the country. Residents will be able to buy digital assets through intermediaries licensed by the central bank, and exchanges must obtain new approval and meet capital requirements. Limits will apply to non-professional investors. The law also allows crypto use for international settlements by Russian firms.

Crypto

Russia crypto enters regulated system; first-year trading seen at $46.4 billion

Russia’s new legal framework for cryptocurrencies takes effect on Sept. 1, and the country’s largest bank, Sberbank, forecasts the domestic crypto trading market could reach up to 4 trillion roubles, or about $46.4 billion, in the first year. A Sberbank executive also said trading could expand to 7.5 trillion roubles, or about $87.0 billion, by 2029 if growth continues. The bank is preparing to accept ether and USDT as loan collateral, subject to central bank approval.