Sberbank, Russia's largest bank, is set to become a market maker for the country's regulated cryptocurrency platforms.
Bank of Russia launches a three-year experimental regime for qualified crypto investors, where strict qualification standards need to be met to buy or sell cryptocurrencies.
Sberbank is planning to offer ETF-like products that provide crypto exposure without owning the actual coins, similar to Western markets.
Russia is prioritizing addressing crypto crime and developing new regulations to regulate cryptocurrency efficiently, including rules for using derivatives linked to crypto values.