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Russia's Sberbank Preparing Stablecoin For 2021 Spring Rollout
Summary: Sberbank, a Russia-owned federal reserve bank, has filed an application to the Russian Central Bank to launch its stablecoin-Sbercoin-in early January, as reported by local media interfax. The registration process usually does not exceed 45 days under Russia's legal regulations, therefore, the bank may launch Sbercoin and its blockchain platform before this spring. However, Sberbank ...
Sberbank, a Russia-owned federal reserve bank, has filed an application to the Russian Central Bank to launch its stablecoin-Sbercoin-in early January, as reported by local media interfax.
The registration process usually does not exceed 45 days under Russia's legal regulations, therefore, the bank may launch Sbercoin and its blockchain platform before this spring.
However, Sberbank is still studying the taxation of Sbercoin. "There is a high probability that this project will be launched in the spring. There is one more issue that has not yet been fully resolved, which is connected to the taxation of digital financial assets. But we hope that this question will be resolved soon." said Sergey Popov, the head of Sberbank's transaction business.
By Mary Liu
Tags: Blockchain,Russia,Sberbank,Sergey Popov,Stablecoin
Link: Russia's Sberbank Preparing Stablecoin For 2021 Spring Rollout [Copy]
