Russia Outlines Rules for Organized Crypto Trading, Depositories

Russia's central bank has published draft regulations for what it calls 'organized trading' of digital assets and digital rights.

The proposals would require exchanges to determine their own trading procedures in rulebooks, calculate market and weighted average prices for digital assets, and maintain records of cryptocurrencies and digital rights through new entities called digital depositories.

Digital depositories would need to hold between 50 million rubles ($640,860) and 250 million rubles ($3.2 million) in equity, depending on their functions, with the capital consisting of liquid assets and high-credit-quality financial assets.