Inside Russia's Crypto Rules: Sberbank CEO Reveals Key Insights

Sberbank CEO Herman Gref announced that using cryptocurrencies as a payment method within Russia is currently prohibited by law and is unlikely to be allowed in the near future. Speaking at the “FI day. Blockchain: on the edge of a new financial era” conference in Moscow, Gref clarified that while Russia’s new legislation permits the use of digital currencies and cryptocurrencies for international payments, their domestic use remains restricted. He also noted that Russia’s central bank digital currency (CBDC), the digital ruble, could be used in global transactions if other countries are willing to accept it. Sberbank, Russia’s largest bank and a state-owned financial institution, is closely monitoring these developments, although Gref expressed uncertainty about the digital ruble’s adoption abroad.