Sberbank plans crypto wallet by December as Russia readies licensed market with $3,800 yearly retail limit

Russia’s largest bank plans to add a crypto wallet and digital depository to Sberbank Online and SberInvestments by December after the On Digital Currency and Digital Rights bill is expected to take effect on Sept. 1. The framework creates licenses for trading, custody, fiat conversion, and cross-border settlements, with non-qualified investors capped around 300,000 rubles ($3,800) a year. That is a hard pivot from the Bank of Russia’s 2022 push for a broad crypto ban, with market participants given until July 1, 2027 to join the registry.

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