Russia Publishes Draft Rules for Crypto Exchanges and Custodians

Russia's Central Bank has published draft rules for cryptocurrency exchanges and custodians as part of the country's new regulated market.

The rules, which will complement the upcoming 'digital currency' law set to take effect in September 2026, cover key participants such as exchange providers, storage services, coin issuers, and digital depositories.

The regulator has also outlined requirements for digital depositories, which must have a minimum equity of between $600,000 and $3 million, depending on their activities. The assets making up the equity should be liquid and have high credit quality.

Russian crypto industry players expect regulated activities to begin late this year, with a transitional period until March 2027 allowing them to comply with the regulations and obtain necessary approvals.