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

Russia's largest bank, Sberbank, said on Thursday that it hopes to provide custody services for Russian cryptocurrency assets, striving 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 regulatory issues of domestic crypto assets. Pronin said at a cryptocurrency regulatory discussion that Sberbank's proposal would make the regulatory approach to cryptocurrency assets similar to that of bank account assets, and that the bank would ensure the security of tokens. Holding crypto assets on behalf of clients means that these assets may be frozen if law enforcement suspects misconduct, but this move will make trading operations more convenient and protect accounts from hacking. (Reuters) [Odaily Planet Daily News]