Key facts
- Russia has registered its first crypto exchanges and custodians under new regulations.
- Four exchange operators and five custodians were listed by the Bank of Russia.
- Sberbank, Russia's largest bank, is among the registered custodians.
- Sberbank plans to launch crypto products on December 1, supporting Bitcoin, Ether, and USDT.
- A new crypto law signed in August created a regulated framework under the Bank of Russia's oversight.
- Russia's ban on using crypto for payments remains in place.
Russia has officially registered its first cryptocurrency exchange operators and digital custodians, marking a significant step in the country's regulatory approach to digital assets. The new regulations, which took effect on September 1, have led to the Bank of Russia publishing its inaugural registers of authorized crypto entities. The lists include four exchange operators and five custodians.
Among the notable entities registered is Sberbank, Russia's largest bank, which has secured digital custodian status. Sberbank has announced plans to introduce its first cryptocurrency products on December 1, initially focusing on Bitcoin (BTC), Ether (ETH), and USDt (USDT). These offerings will be accessible through the bank's existing platforms, including SberBank Online, SberInvestments, and SberBusiness.
Other registered custodians include Atomyze, Voltari, and Cloud Infrastructure. On the exchange operator side, T-Invest Lab, Zefir, and Sistema-Crypto have been listed. VTB Bank appears on both the exchange operator and custodian registers.
The implementation of these registers follows the enactment of a new crypto law in August, signed by President Vladimir Putin. This legislation establishes a regulated framework for various participants in the crypto market, including exchanges, custodians, brokers, and investors, placing them under the oversight of the Bank of Russia. Despite the regulatory framework, the law upholds Russia's existing ban on the use of cryptocurrencies for the payment of goods and services.