Russia just greenlit its first crypto exchanges and custodians under new regs.

Sberbank (Russia's biggest bank) got approved and is dropping crypto products Dec 1st.

This isn't just "we acknowledge crypto exists" anymore. This is state-backed infrastructure going live.

Once regulation clears the fog, legacy finance floods in. We're watching it happen in real time.

Bullish for institutional adoption. TradFi banks are finally stepping in.