PANews reported on July 17 that according to Reuters, Sberbank, Russia's largest bank, said on Thursday that it hopes to provide custody services for Russian cryptocurrency assets, seeking to play a leading role in the development of digital assets in Russia. Anatoly Pronin, Executive Director of Sberbank's Alternative Payment Solutions Department, stated that after seeing more and more foreign banks begin to offer custody services, the bank has submitted a proposal to the central bank regarding the regulation of domestic crypto assets. Pronin said at a cryptocurrency regulation discussion that Sberbank's proposal would make the regulation of cryptocurrency assets similar to that of bank account assets, and the bank would ensure the security of tokens. Holding crypto assets on behalf of clients means that if law enforcement suspects misconduct, these assets could be frozen, but this move could make transactions more convenient and protect accounts from hacker attacks.
Russia's largest bank Sberbank plans to provide custody services for Russian crypto assets
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