Central bank of Russia grants permission to Sberbank to issue, exchange digital assets
The Central Bank of Russia has granted permission to Sberbank, a Russian majority state-owned banking and financial services company headquartered in Moscow, to issue as well as exchange digital assets in the nation amidst the ongoing Russia-Ukraine crisis.
Central Bank of Russia changing sides?
The Central Bank of Russia seems to be changing sides when it comes to cryptocurrencies as recently, the bank asked for a complete ban on cryptocurrency. It is important to note that the crypto ban FUD from Russia caused a lot of panic in the crypto space.As per a report from Reuters, Sberbank, which recently introduced the first blockchain-based ETF, will now have the authority to provide digital assets-based services to its customers along with another firm called Lighthouse. It seems that the Central Bank of Russia is easing up a bit on cryptocurrencies looking at the progress of Ukraine where the President of the nation, Volodymyr Zelenskyy, has signed a bill to legalize crypto.
Moreover, as per the report, Sberbank added that the blockchain technology to be used will guarantee “the safety of digital transactions and would allow companies to issue their own digital assets, purchase those issued within Sberbank’s system and make other transactions.”
Sberbank doesn’t print money
Another report from Reuter covered a statement from the President of Russia, Vladimir Putin which came on Wednesday. In the report, Putin added that the Central Bank of Russia does not print money and any challenges that might arise in the near future, the country has enough resources to face them.“Our economy and business have all necessary resources to meet all the goals set, challenges should only mobilize us," hinting at the fact that Russia has all the tools that might come in handy to avoid the sanctions imposed by the West.
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