Key facts
- Sberbank, Russia's largest bank, aims to launch crypto trading infrastructure and a digital depository by December 1.
- New Russian regulations for crypto trading, custody, and settlement become effective September 1.
- Licensed intermediaries will be required for crypto transactions starting July 2027.
- Public trading will be restricted to assets meeting specific liquidity and market capitalization criteria.
- Crypto payments for goods and services within Russia are prohibited.
Russia's largest bank, Sberbank, is preparing to launch its own cryptocurrency trading infrastructure and a digital depository by December 1. This move aligns with Russia's broader strategy to integrate digital assets into its regulated financial system.
The new framework, approved by the Federation Council, will take effect on September 1, with stricter requirements for licensed intermediaries commencing in July 2027. Public trading will be restricted to cryptocurrencies that meet specific liquidity and market capitalization thresholds set by the Bank of Russia, such as a minimum average market capitalization of 5 trillion rubles ($64 billion) and an average daily trading volume of 1 trillion rubles ($12.8 billion) over two years.
While qualified investors will have access to a wider range of assets, the use of cryptocurrency for payments for goods and services within Russia will remain prohibited. Sberbank has previously engaged with the crypto market, offering structured bonds tied to bitcoin and completing a bitcoin-backed lending pilot.
Russia has been progressively formalizing its approach to digital assets, with a 2024 law legalizing mining and establishing an experimental regime for cross-border crypto settlements. Further steps in 2025 included allowing qualified investors to purchase crypto-linked financial products and proposing limited direct retail purchases subject to testing and annual caps.