Sberbank wins Russia’s approval for crypto exchange services

Sberbank has secured the Bank of Russia’s approval to provide cryptocurrency exchange services, joining nine registered operators ahead of its planned Dec. 1 product launch. Nine organizations now appear in Russia’s cryptocurrency exchange register, including Sberbank, VTB and T-Invest Lab. Sberbank plans to offer its first crypto products on Dec. 1 through existing customer platforms. Registered firms must follow transaction rules immediately and meet remaining requirements by Sept. 1, 2027. U.S. Treasury sanctions rules cover cryptocurrency transactions involving blocked Russian institutions as well as fiat transfers.