Sovcombank is considering offering credit products to cryptocurrency miners in Russia, using Bitcoin as collateral. Compliance director Maria Burdonova highlighted the demand for small loans backed by digital assets, especially among individual entrepreneurs in the mining sector. While such practices are common in the U.S., Russia's financial infrastructure currently lacks regulation for using Bitcoin and other cryptocurrencies as collateral.
Sovcombank Considers Bitcoin-Backed Loans for Russian Miners
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.