Key facts
- Self-custody crypto wallets are exempt from restrictions for cross-border payments.
- Domestic crypto transactions will face stricter rules for licensed intermediaries.
- NAUFOR registered as crypto industry oversight body.
- 23 organizations in exchange register, eight in digital depository register.
The Bank of Russia has confirmed that restrictions on self-custody crypto wallets will not apply to cross-border payments, according to a report. First Deputy Governor Vladimir Chistyukhin clarified that non-custodial wallets remain available for international settlements, distinguishing them from domestic trade which will be subject to stricter rules for licensed intermediaries. Existing ownership of assets in personal wallets is not prohibited, though domestic transfers are subject to limits. Russia's Federal Law No. 282-FZ, establishing a regulated framework for cryptocurrency trading and custody, took effect on September 1. The central bank also registered the National Association of Securities Market Participants (NAUFOR) as its self-regulatory organization to support industry standards and compliance.