Russia Starts Licensing Crypto Exchanges And Custodians Under New Register

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR: Russia’s new regulated crypto-market framework has moved into operation, with the Bank of Russia adding firms including VTB, Sberbank and several specialist operators to registers covering cryptocurrency exchanges and digital depositories. Domestic crypto payments remain restricted, but regulated trading and custody infrastructure is now taking shape. Russia has begun turning its new cryptocurrency rules into an operating financial system. The Bank of Russia’s framework for registering cryptocurrency exchanges and digital depositories took effect on October 5, and the regulator has begun admitting firms to the new market structure. VTB has been added to the register of organizations permitted to exchange cryptocurrency. The digital depository register includes major banks such as Sberbank and VTB alongside specialist infrastructure providers. Other approved crypto-exchange operators include Zefir, Sistema Crypto and T-Invest Lab, according to information released around the register’s launch. That represents a substantial shift in how Russia handles digital assets. Crypto has ...