TechFlow News, July 6, according to CoinDesk, Russia's largest bank Sberbank announced plans to launch cryptocurrency wallet and digital custody services this December, to be integrated into its Sberbank Online and SberInvestments platforms. The plan will launch after the Russian "Digital Currency and Digital Rights" bill officially takes effect; the First Deputy Governor of the Central Bank of Russia stated the bill is expected to take effect on September 1. The new bill will issue business licenses to enterprises for crypto trading, custody, digital fiat currency exchange, and cross-border settlement, with an annual transaction limit for non-qualified investors of approximately 300,000 rubles (about $3,800). In addition, other major financial institutions such as VTB and T-Bank are also advancing their digital custody business layout.
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