Sberbank, Russia’s largest state-owned bank, has reportedly applied to the Bank of Russia to launch the Sbercoin blockchain platform.

This was announced on January 21 at a local financial event by the director of operations of Sberbank Sergei Popov, according to the Russian news agency Interfax.

In the context of “digital transformation and the prospects for regulating the digital economy,” Popov said that Sberbank contacted the central bank in early January, stating that registration procedures usually take no more than 45 days. The bank may launch a platform and stablecoins this spring, the official said. However, Sberbank still taxes Sbercoin:

There is a high probability that this project will start in the spring. This is an unresolved issue of taxation of digital financial assets. But we hope that this issue will be resolved soon. ”
Popov added that Sberbank is still “ready to deal with such fiat currency” from a technological point of view. “We completed an internal test to make sure the solution works,” he said.

Sberbank did not immediately respond to Cointelegraph’s request for comment.

As previously mentioned, Sberbank posted the news of the development of its original Sbercoin token in late November after much talk about the plans. Sberbank’s latest announcement came shortly after Russia officially adopted the “cryptocurrency law on digital financial assets” on January 1, 2021.

At the end of 2020, Russian State Duma Deputy Anatoly Aksakov said that the State Duma Committee on Financial Markets expects an increase in the overvaluation of the Russian cryptocurrency after the adoption of a new law on cryptocurrency in the country.

Source: CoinTelegraph