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Russia's largest bank Sberbank gets approval to offer crypto exchange

The Bank of Russia added Sberbank to its register of crypto exchange service providers. The bank plans to launch its first crypto products on December 1.

On October 12 the Bank of Russia added Sberbank to its register of crypto exchange service providers. The bank had earlier been registered as a digital depository and approved for crypto custody.

Sberbank will offer the service through its existing apps that customers already use, with launch planned for December 1. Eight other firms are on the register, including VTB and T-Invest Lab.

It all follows Russia's new digital asset law, in force since September 1, which lets licensed exchanges, brokers and depositories handle crypto.

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Sources: CoinGape, KuCoin

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  • #russia
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