As of June 15, two Russian banks have offered cryptocurrency-based investment options for retail investors. Russian banks began experimenting on the so called “digital financial assets” in a meeting just last Wednesday.
It is said that those assets were six cryptocurrencies including, Bitcoin, Ethereum, Bitcoin Cash, and Litecoin – this will now form an investment portfolio.
Russia will move to legalize the cryptocurrency investment under Russian law.
The deputy head of private banking, Ana Ivanchuk said:
“We want to offer our clients a completely transparent point for digital assets, fully in compliance with the regulatory requirements, and which allows investment within Russia that interests them.”
This new investment will allow clients withdraw to fiat at will, with crypto-assets being controlled by other partner group.
Russia is now moving forward to this new cryptocurrency investment for retail investors and pushing for it to be legal under Russian law.