The largest bank in Russia has decided to give stability to the currency or to peg it to the Russian ruble

After Russian President Vladimir Putin signed the first Russian cryptocurrency bill, Russia's largest bank, Sberbank, decided to donate a stable currency linked to the Russian ruble.

According to a report by the Russian news agency Kommersant on Tuesday, Sergey Popov, director of the commercial division of Sberbank, said that the masses are now actively deciding to endow themselves with a firm frozen currency pegged to the Russian ruble.

According to the report, the stable coins that the bank decides to issue can be used to resolve other digital financial instruments. Popov pointed out that Sberbank could announce digital gains on the basis of Russia's recently passed “Digital Financial Assets (DFA)” bill.

“According to recent legislation, fixed parts can be obtained. By pinning fixed coins for rubles, the token can become an important tool for solving other digital finances, ”he said.

Just last week, Russian President Putin signed the DFA law. The bill was passed by the Russian Parliament on July 22. Russian lawmakers have approved the legal status of crypto assets and the new law will come into force on January 1, 2021.

Although the bill provides legal conditions for digital assets and legalizes the real estate market in Russia, the use of cryptocurrencies such as Bitcoin for payments is still restricted.

However, the Central Bank of Russia still believes that buying cryptocurrency should not be viewed as an investment. Sergei Schvetsov, President of the Central Bank of Russia, said: "According to the regulator, the Bank of Russia maintains that buying cryptocurrencies is not an investment," said Sergei Schvetsov, Managing Director of the Central Bank of Russia. . Roulette game, not used for financial transactions. The government or the intermediary should not encourage the public to buy cryptocurrencies. "

According to the report, in May 2019, Sberbank canceled its crypto-related plans due to the Russian Central Bank's attack on the crypto industry.