Bank of Russia Proposes Rules for Crypto Exchanges and Digital Asset Custody

The Bank of Russia has proposed a new regulatory framework aimed at integrating cryptocurrency trading and digital asset custody into the country’s financial system.

The central bank published draft regulations that would allow cryptocurrencies and digital rights to be included under Russia’s organized trading framework, establishing requirements for trading platforms, price reporting, market transparency, and digital asset recordkeeping.

Under the proposed rules, crypto trading platforms would be required to calculate market and weighted-average prices for digital assets, disclose trading information, and provide relevant data to the Bank of Russia. The regulations would also introduce procedures for suspending digital asset trading when necessary.

Digital Depositories Proposed as New Crypto Custody Institutions

A key element of the framework is the creation of digital depositories, a new category of regulated financial institution responsible for recording ownership of cryptocurrencies and digital rights.

The proposed entities would operate similarly to traditional securities depositories, maintaining ownership records while providing regulated custody infrastructure for digital assets.

Depending on their activities—including involvement with public blockchains and post-trade settlement—digital depositories would be required to maintain minimum equity ranging from ₽50 million to ₽250 million in liquid, high-credit-quality assets.

Comparable capital requirements would apply to electronic platform operators involved in settling digital financial asset transactions.

New Rules Target Transparency and Risk Controls

The draft regulations also establish standards for digital asset recordkeeping, customer information management, account administration, and access controls.

Digital depositories would be supervised through a central register maintained by the Bank of Russia, placing crypto custody providers under direct regulatory oversight.

The proposals are currently open for public consultation as part of Russia’s regulatory impact assessment process.

Russia Expands Crypto Rules Ahead of 2026 Implementation

The latest proposals follow Russia’s adoption of a broader cryptocurrency regulation framework that establishes legal rules for digital asset trading and custody.

The legislation introduces licensing requirements for crypto service providers, including exchanges, brokers, and custodians, while limiting crypto transactions to approved entities.

Under the new framework, cryptocurrencies can be used forcross-border commercial transactions, but digital assets remain prohibited as a means of payment within Russia.

Most provisions of the legislation are scheduled to take effect on Sept. 1, 2026, with full compliance expected by July 2027. Additional measures focused on fraud prevention are expected to follow later that year.

The Bank of Russia’s latest proposals mark another step toward creating a regulated digital asset market, shifting Russia’s approach from restricting crypto activity toward establishing controlled infrastructure for trading, custody, and settlement.