Russia’s largest Bank plans to launch its own stablon

Крупнейший российский банк планирует запустить собственный стейблкоин

Soon after Russia had adopted a law on the cryptocurrency in the country, the largest Bank of the country expressed their views.

One of the largest Russian banks Sberbank is considering issuing its own token.

Sergey Popov, Director of the operating business of Sberbank, said that the Russian banking giant thinks about the results of his own stablon that can be linked to the Russian ruble, writes Cointelegraph.

Stablein of the savings Bank will meet the recently adopted cryptotoken

According to the report, the potential stablon can be used for calculations with other digital of financial assets. Popov said that Sberbank will be able to issue a token in accordance with the recently adopted cryptocurrency by law entitled “On digital of financial assets”.

He said

“We probably can release stablon on the basis of the law passed recently. Since we can assign this token to the ruble, he can become a basis or tool for calculations related to other digital of financial assets”.

This news comes shortly after Russian President Vladimir Putin on July 31 officially signed a bill to CFA in Russia.

By signing this bill, Putin has banned Russian residents to make payments in crypto-currencies such as Bitcoin (BTC), starting from 1 January 2021. The law of the CFA are reported to legalize the cryptocurrency exchanges, buying and selling, as well as loans in the cryptocurrency.

On the website CoiNews it was reported that a bill regulating the cryptocurrency finally approved in the third reading by the Russian Parliament. So, from January 2021, cryptocurrency acquires legal status in Russia.

The portal CoiNews informed that the Russian district court found stealing bitcoins is not a crime, because cryptocurrencies in Russia is not regulated and no legal status for bitcoin itself.

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