Sberbank proposed to transfer the storage of bitcoins under the control of banks

"Sber" proposed to make Russian banks centers for accounting and storage of cryptocurrencies. This is reported by "Vedomosti" citing the words of the representative of the financial institution Anatoly Pronin.

The essence of the initiative is that banks could act as custodians — storing clients' digital assets, managing them, and conducting transactions. The responsibilities of credit institutions will include:

• guarantee of the safety of funds in case of hacking or loss;
• legal protection of clients;
• accounting and risk monitoring;
• use of Russian encryption systems and compliance with anti-money laundering legislation (115 FZ).
• client verification through ESIA and sanctions lists.

Cryptowallets will be stored within the banking system. This will allow for the identification of owners and tracking of transactions.

Credit organizations will create a three-level risk assessment model. It includes multi-factor verification of operations, automatic classification of risks, and flexible rules for blocking suspicious transfers.

Banks will monitor transactions, identify suspicious deals, and report them to Rosfinmonitoring. Special attention will be paid to cross-border transfers to unfriendly countries.

"And we are prepared to request supporting documents from clients for cross-border operations in order to comply with currency regulation and control legislation," emphasized Pronin.

"Sber" also proposed to maintain separate reporting for crypto transactions and to establish limits on exchanging cryptocurrency for rubles and vice versa. The bank representative did not specify the exact amounts, but they are indicated in the proposals for the Central Bank of the Russian Federation.

Recall that at the end of May, the Bank of Russia allowed credit organizations to offer cryptocurrency-based instruments for qualified investors. In early June, "Sber" issued Bitcoin bonds.

In April, the authorities of the Russian Federation announced the launch of a cryptocurrency exchange within the framework of an experimental legal regime.