Crypto on the Start: Settlements by Year-End

By the end of 2024, Sberbank will conduct its first cryptocurrency settlements for foreign trade transactions. Anatoly Popov, the bank's deputy chairman, stated at a conference that the experimental legal framework is being actively finalized for this purpose. Sberbank is working with the Bank of Russia to fine-tune the regulatory details, and the first digital asset transactions are expected to take place in 2024.

Additionally, the bank is discussing the creation of a cryptocurrency exchange for trading digital assets under the same regulatory framework. Sberbank has already submitted proposals to the Central Bank of Russia regarding the regulation of crypto exchange operations.