Russia Publishes Draft Crypto Trading Regulations with High Capital Requirements

Russia's central bank has taken a significant step toward regulating cryptocurrency trading within the country by releasing a draft regulatory framework. The proposed rules establish specific capital requirements for crypto custodians and outline operational standards for custody and record management.

Firms acting as crypto custodians would be required to hold equity capital ranging between 50 million and 250 million rubles, depending on their operational scope and the volume of assets under custody. The central bank's proposal also mandates additional requirements for secure custody of digital assets and detailed record-keeping procedures.

This move is part of a broader effort by Russian authorities to bring digital asset activities under a clearer legal framework. While the central bank has historically taken a cautious stance on cryptocurrencies, recent developments indicate a shift toward regulation rather than outright prohibition.