Russia Sets July 2027 Deadline for Crypto Exchanges to Obtain Licenses

Russia has introduced a licensing framework for cryptocurrency exchanges, exchange offices, and digital custodians. The State Duma adopted legislation requiring them to obtain licenses by July 2027.

The law creates a transition period until July 2027, allowing existing market participants to bring their businesses into compliance with the new rules.

Under the framework, exchanges will operate regulated trading venues, exchange offices will facilitate purchases and sales of cryptocurrencies, and digital custodians will record rights to digital assets held within the regulated system.