Sber explained how to unfreeze a card after cryptocurrency transactions

Sber clients who have had their cards blocked after buying and selling cryptocurrencies can unfreeze them by providing exchange account information. This is reported by RBC with reference to a representative of the financial institution.

Since such transactions are considered dubious, the bank limits the use of the card and sends a request to clarify the source of the funds.

You can confirm your income using a screenshot of your personal account on the website of a crypto exchange or other services, which allows you to clearly identify the owner. It is also necessary to provide the address of the site where the purchase and sale of cryptocurrency took place, username and transaction history.

A representative of Sber urged clients not to ignore the bank’s requests “in order to be able to use all services without restrictions.”

Since 2018, cryptocurrencies have been recognized as a high-risk factor for the financial space of the Russian Federation.

In a letter dated September 2021, the Bank of Russia classified transactions with crypto exchangers as dubious and recommended banks to carefully monitor them. If money laundering is suspected, credit institutions are advised to block client transactions and even terminate the contract.

The regulator also announced plans to develop a mechanism for blocking payments to cryptocurrency exchanges and exchangers.

In February 2024, the Bank of Russia announced the need to minimize the participation of financial organizations in activities related to the circulation of digital currencies. In particular, advertising of services for the circulation of such instruments is considered undesirable.

Commercial banks are recommended to identify purchase and sale transactions of digital currencies using accounts registered in the name of fake individuals.