Russia Unveils Draft Rules for Regulated Crypto Trading
The Bank of Russia has published draft regulations for regulated crypto trading and custody in an effort to establish infrastructure for the country's digital asset market.
The central bank proposed amendments to its organized trading regulations, which would bring cryptocurrencies and digital rights into the country's regulated exchange framework.
The draft rules require trading platforms to calculate market and weighted-average prices for digital assets, disclose trading information, and provide data to the Bank of Russia. They also introduce trading suspension procedures for digital assets.
The proposed regulations would create digital depositories as a new category of financial institution responsible for recording ownership of cryptocurrencies and digital rights.