Russia's Central Bank authorizes Sberbank to exchange digital currencies

Russia's central bank has added Sberbank to the register of organizations authorized to exchange digital currencies and keep records of cryptocurrencies and digital rights. Sberbank now joins eight other organizations, including state-controlled VTB, on this exchange register. This move supports Russia's comprehensive legal framework for digital currencies, which took effect on September 1, allowing transactions via existing infrastructure, crypto exchanges, and digital depositories. Unqualified investors can buy cryptocurrencies up to 300,000 rubles annually through one intermediary, while qualified investors have broader market access. Sberbank plans to debut its crypto wallet in December, coinciding with the Moscow Exchange's crypto trading debut.