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Crypto

Russia moves to include crypto holdings in bank certificates as it tightens oversight

Russia is moving to require banks to include customers\' cryptocurrency holdings in official balance certificates, under proposals by the central bank. The planned change would add crypto and legally defined “digital financial assets” to documents used to submit balances to other institutions and to support income and asset declarations by civil servants and public-sector workers. The steps follow a law effective Sept. 1 that legalised trading and exchange while banning domestic use for payments.

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.