Anatoly Popov, Deputy Chairman of the Board of Sberbank, expressed support for the legalization of cryptocurrencies in Russia. In an interview with Reuters given before the Eastern Economic Forum, he noted that the bank is pleased with the initiatives of Russian regulators to recognize cryptocurrencies as means for international payments and legalize mining.

“We are confident that cryptocurrencies and stablecoins should be officially recognized as legal payment instruments around the world. We welcome the steps of Russian regulators aimed at recognizing cryptocurrencies as means for international payments and legalizing mining,” Popov said.

He added that there is a stable interest in settlements using cryptocurrencies in the global economy. Although such transactions remain in a gray area in many countries, this can be a useful solution for small and medium-sized businesses in the current conditions.

Popov also clarified that the most frequently used cryptocurrency asset in settlements by Russian companies is the USDT stablecoin. This is explained by the fact that market participants are not always ready to accept the risk of fluctuations in cryptocurrency rates. The advantages of cryptocurrencies are the speed of settlements and the absence of intermediaries, he noted.

This is not Popov's first statement on this issue. In July, he told Sberbank's press service for RBC-Crypto that the creation of a regulated cryptocurrency market in Russia would provide a basis for using digital currencies in international settlements, which would expand the possibilities of foreign economic activity.

Then the bank also sent proposals to the Central Bank of Russia on the parameters of an experimental legal regime (ELR) for cryptocurrency trading and expressed its readiness to actively participate in the development of this regime.