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Russia's Largest Bank Sberbank Plans to Provide Custody Services for Russian Crypto Assets
Summary: According to reports, Russia's largest bank, Sberbank, announced on Thursday its intention to provide custody services for Russian cryptocurrency assets, aiming to take a leading role in the development of digital assets in Russia. Anatoly Pronin, Executive Director of Sberbank's Alternative Payment Solutions Division, stated that in light of the increasing number of foreign banks ...
According to reports, Russia's largest bank, Sberbank, announced on Thursday its intention to provide custody services for Russian cryptocurrency assets, aiming to take a leading role in the development of digital assets in Russia. Anatoly Pronin, Executive Director of Sberbank's Alternative Payment Solutions Division, stated that in light of the increasing number of foreign banks offering custody services, the bank has submitted a proposal to the central bank regarding the regulation of domestic crypto assets. Pronin mentioned during a cryptocurrency regulation discussion that Sberbank's proposal would align the regulation of cryptocurrency assets with that of bank account assets, ensuring the security of tokens. Custody of crypto assets on behalf of clients means that if law enforcement suspects any improper behavior, these assets may be frozen, but this measure can make transactions more convenient and protect accounts from hacker attacks.
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Link: Russia's Largest Bank Sberbank Plans to Provide Custody Services for Russian Crypto Assets [Copy]
