Two Major Russian Banks to Offer Crypto-Based Fund for Retail Investors
Two of Russia’s largest banks are testing cryptocurrency-basedinvestment options for retail investors, local news media out Kommersant reported June 15.
As part of the Russian central bank’s ‘regulatory sandbox,’ Sberbank and Alfa-Bank opted to begin experimenting with products based on so-called “digital financial assets” at a meeting last Wednesday, according to the publication.
Those assets will in fact take the form of six cryptocurrencies – including Bitcoin, Bitcoin Cash, Ethereum and Litecoin – which will form an investment portfolio.
The move comes as Russia prepares to enact binding lawsgoverning cryptocurrencies and blockchain technology, which will see crypto become formally defined, legalized investment assets under Russian law.
We all hope that all will good soon