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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.
Crypto
Russia\'s Sberbank seeks to expand crypto-backed loans with ETH and USDT, cool to digital ruble
Russia\'s largest bank Sberbank plans to expand crypto-backed lending by recognising ether and Tether\'s USDT as collateral after previously accepting bitcoin. The bank will adjust products to match a new Russian crypto law due to take effect on Sept. 1, with actual expansion contingent on central bank approval of public trading. Sberbank executives also signalled a cautious stance toward the digital ruble, citing limited interest beyond the central bank.
