Russia's largest bank, Sberbank, is preparing to launch its own stablecoin. Sbercoin will be 1:1 against the Russian rouble and will be used for digital settlement of financial assets.
The Russian government prohibits the deposit of funds into anonymous wallets. According to the legislature, this initiative aims to reduce illegal network activities such as terrorist financing and drug dealing.
According to local news agency Izvestia The Russian state-owned bank Sberbank is introducing non-contact ATMs in Russia using blockchain technology. The aim is to improve security and reduce the spread of coronavirus. A pandemic has paved the way for contactless technology. From touchless travel, payments, touchless toilets to touchless ATMs introduced in the Russian market. Touchless solutions are becoming increasingly popular and are setting new prospects.
According to the Russian government, cryptocurrencies trading is about to become a crime, and traders could end up in prison. This is part of a law bill through which Russia wants to regulate cryptocurrencies.