Russia's largest bank Sberbank plans to provide custody services for Russian crypto assets

PANews July 17 news, according to Reuters, Russia's largest bank, Sberbank, said on Thursday that it hopes to provide custody services for Russian cryptocurrency assets and strive to play a leading role in the development of digital assets in Russia. Anatoly Pronin, executive director of Sberbank's alternative payment solutions department, said that after seeing more and more banks abroad begin to provide custody services, the bank has submitted a proposal to the central bank on the regulation of domestic crypto assets. Pronin said at a discussion meeting on cryptocurrency regulation that the Russian Federal Savings Bank's proposal will make the regulation of cryptocurrency assets similar to the regulation of bank account assets, and the bank will ensure the security of tokens. Safekeeping crypto assets on behalf of customers means that if law enforcement agencies suspect misconduct, these assets may be frozen, but this move will make trading operations more convenient and protect accounts from hacker attacks.