CEO of Sberbank of Russia: Currently, the use of cryptocurrency as a payment method is prohibited in Russia

ChainCatcher news, Sberbank CEO Herman Gref stated that the law currently prohibits the use of cryptocurrencies as a means of payment within the Russian Federation, and it is unlikely to be allowed in the near future.

Gref clarified at a meeting in Moscow that while new legislation in Russia allows for the use of digital currencies and cryptocurrencies for international payments, their use domestically remains restricted. He also pointed out that if other countries are willing to accept it, the Central Bank Digital Currency (CBDC) of Russia—the digital ruble—can be used for global transactions.

As the largest bank and state-owned financial institution in Russia, Sberbank is closely monitoring these developments, although Gref expressed uncertainty about the adoption of the digital ruble abroad.