Russia Opens Crypto Exchange Applications with Strict Regulatory Framework
The Bank of Russia has officially launched the application process for cryptocurrency exchanges and related operators to join its regulatory registers, with the new rules taking effect on 5 October 2026. The central bank published the admission procedures on 24 September, following the registration of the acts with the Ministry of Justice. This move aligns digital asset services with traditional financial supervision, setting minimum capital requirements and strict technical standards to ensure market stability and regulatory oversight.
Under Federal Law No. 282-FZ, enacted on 4 August 2026, organizations exchanging digital currencies or holding digital assets in custody must register with the Bank of Russia. Applicants must meet capital thresholds, with exchanges requiring at least 15 million rubles in own funds. Digital depositories face higher capital requirements based on their activities. The review period for a complete application is 30 working days, with decisions communicated within three working days afterward.
The framework also sets investor access rules, capping non-qualified crypto purchases at 300,000 rubles annually. Qualified investors face no monetary limits but must pass a knowledge test. The transition period for market participants to obtain necessary authorizations runs through 1 July 2027. During this time, some entities already listed in earlier registers can continue limited activity under prior rules.
The capital, governance, and technical standards aim to bring exchange and custody functions under the same supervisory perimeter as other segments of the Russian financial market. The Bank of Russia stated that the first entries into the registers could occur before the end of 2026 if applications are filed promptly and documentation is complete. The precise set of cryptocurrencies available to non-qualified investors will depend on further secondary acts and the products offered by authorized intermediaries.