TLDR
- Bank of Russia published draft rules for organised crypto trading.
- Crypto exchanges would set trading procedures through internal rulebooks.
- Digital depositories would keep records of crypto and digital rights.
- Minimum capital rules range from 50M to 250M rubles.
- Russia’s crypto bill keeps the domestic payment ban in place.
The Bank of Russia has published draft rules for organized crypto trading, setting proposed standards for exchanges, digital depositories, custody records, and settlement infrastructure.
Bank of Russia Sets Crypto Trading Framework
The central bank said the draft regulations would create conditions for organized trading in digital currencies and digital rights. The rules would bring crypto assets into a regulated trading framework as Russia prepares a wider legal structure for the sector.
Under the proposals, crypto exchanges would set their trading procedures through internal rulebooks. They would also calculate market prices and weighted average prices for digital assets and digital rights traded on their platforms.
The draft also requires trading platforms to disclose trading information and provide market data to the Bank of Russia. The proposed framework includes procedures for suspending trading in digital assets when required.
The measures remain in the regulatory impact assessment phase. Public consultation will help shape the final rules before the central bank moves toward full implementation.
Digital Depositories Face Capital Rules
The Bank of Russia also proposed a new regulated category called digital depositories. These entities would maintain records of digital currencies and digital rights while managing digital accounts and asset ownership data.
Digital depositories would operate under principles similar to traditional securities depositories. The central bank said it would maintain the official register of these entities.
The draft sets minimum equity requirements between 50 million rubles and 250 million rubles, or about $640,860 to $3.2 million. The amount depends on whether the entity works with open distributed ledgers or provides post-trade settlement services.
The required capital must consist of liquid assets. Any financial assets included in the capital base must also carry high credit quality.
Similar financial requirements would apply to electronic platform operators. These operators would support settlement of digital financial asset transactions through nominal accounts.
The proposal also covers recordkeeping standards, customer information, account management, system participants, and access controls. These rules would form part of the operating structure for regulated crypto services.
Draft Rules Follow Wider Crypto Market Bill
The draft regulations follow Russia’s broader crypto market bill, which passed the State Duma last week. The bill creates a legal framework for regulated retail crypto trading while keeping the ban on domestic crypto payments.
The legislation allows digital assets to be used for cross-border commercial transactions. However, cryptocurrencies would remain unavailable as a means of payment inside Russia.
The new market structure would place exchanges, brokers, custodians, and other service providers under licensing and operational requirements. Approved entities would handle trading and custody activities under the proposed legal framework.
Most provisions are expected to take effect from Sept. 1, 2026, if the legislation is enacted. Full compliance would be required by July 2027, with later fraud-prevention measures planned after that.
The central bank’s draft rules add operational detail to the wider crypto law. They explain how exchanges should price assets, how custodians should keep records, and how settlement operators should handle digital financial asset transactions.
