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Russia’s state-owned Sberbank abandons crypto plans: Cites Bank of Russia negative stance on …

Russia’s state-owned Sberbank abandons crypto plans: Cites Bank of Russia negative stance on cryptos

Bank of Russia still stands against the idea of allowing the adoption of digital assets. Sberbank Switzerland AG announced in January 2018 of plans to launch cryptocurrency exchange services. The largest bank in Russia is reported to have halted all its crypto-related plans following the country’s central bank’s negative take on digital asset according to a report published by TASS, a local news agency on May 30.