Sberbank Moves Closer to Crypto Trading Launch After Bank of Russia Approval

The bank said the launch date depends on two things. One is the central bank's decision on its application. The other is the readiness of the regulations that put the law into effect. Sberbank joined the Bank of Russia’s register of crypto exchange organizations on Monday, bringing the list to ten firms. According to Interfax, the listing lets Russia’s largest bank buy and sell digital currencies on its own account, outside organized trading, under the central bank’s definition of the role. Sberbank already sat on the regulator’s separate register of digital depositories. It and VTB are the only firms on both lists. A digital depository keeps the record of clients’ crypto and handles transfers between them. It also gives clients access to the addresses where those assets are held. Exchange Register Reaches 10 Firms Banks and other firms could apply for both registers from October 5. A day later, the Bank of Russia added four crypto exchange organizations and five depositories to those registers. VTB, T-Invest Lab, Zefir and Sistema-Crypto made up that first exchange list. T-Invest Lab belongs to T-Technologies, the group that also owns T-Bank. Non-bank credit organization FinPilot ...