Russia Approves First Official Crypto Exchanges and Depositories

The Bank of Russia has taken a significant step by allowing organizations to officially operate in the financial market, focusing on digital currency exchanges. Four companies, VTB, T-Invest Lab from the T-Technologies group, Zephyr, and Sistema-Kripto, have been included in a special register, granting them the authority to buy and sell digital currencies independently. Additionally, five other organizations, including VTB, Sber, Voltari, Atomize, and Cloud Infrastructure, have been designated as digital depositories, enabling them to manage and record digital assets and rights.

These participants were admitted under the transitional provisions of the new legislation on digital currencies and digital rights, which began operating on September 1, 2026. The companies are now obligated to comply with established rules for conducting and accounting for operations. However, they have been granted a transitional period to fully align their operations with the new legislative requirements by September 1, 2027.

The Central Bank views the inclusion of these first participants in the registers as a crucial milestone in developing a regulated infrastructure for the Russian digital currency market. This move signifies the country's ongoing efforts to integrate cryptocurrencies into its financial framework under a structured regulatory system.