Russia Sets Stage for Regulated Crypto Trading with Draft Rules

The Bank of Russia has published draft rules for organized crypto trading, aiming to create conditions for regulated trading in digital currencies and digital rights. The proposed framework includes procedures for suspending trading in digital assets when required.

Crypto exchanges would set their own trading procedures through internal rulebooks, calculating market prices and weighted average prices for digital assets and digital rights traded on their platforms. They must also disclose trading information and provide market data to the Bank of Russia.

Digital depositories would maintain records of digital currencies and digital rights while managing digital accounts and asset ownership data. These entities would operate under principles similar to traditional securities depositories, with minimum equity requirements between 50 million rubles and 250 million rubles (about $640,860 to $3.2 million).

The draft regulations follow Russia's broader crypto market bill, which passed the State Duma last week. The legislation creates a legal framework for regulated retail crypto trading while keeping the ban on domestic crypto payments.