The Russian commercial bank Expobank issued the first personal loan secured by cryptocurrencies.
According toAccording to Kommersant, a loan secured by Waves tokens was issued to businessman Mikhail Uspensky. Waves founder Sasha Ivanov confirmed this news.
The amount of the loan has not been disclosed. The head of the legal department at Expobank said the loan is "a precedent for the legal and banking communities."
Last month, the Russian president signed a law that prohibits payments with cryptocurrencies. The law comes into force in January 2021.
Subscribe to ForkNews on Telegram
Based on materialshttps://www.theblockcrypto.com/linked/75288/russian-bank-is-said-to-have-issued-the-countrys-first-crypto-backed-loan
Read this:
Bank of Russia categorically against the legalization of cryptocurrencies on the public blockchain
Russian cryptocurrency law
Virgil Griffith released on bail pending trial
Amid the crisis, the Russian bank will abandon the dollar, and the Ukrainian regulator will quarantine the currency
South African Bank FNB closes cryptocurrency exchange accounts
Venezuelan Central Bank considers storage of cryptocurrencies