Key Highlights
- The Bank of Russia released draft regulations covering crypto trading, digital rights, and asset accounting.
- The framework introduces digital depositories with capital requirements of 50–250 million rubles based on operations.
- Exchanges will set trading rules and calculate crypto market prices, while the central bank will oversee the digital depository registry.
The Bank of Russia has released the first set of draft regulatory documents aimed at establishing a framework for organized trading of digital currencies and digital rights while formalizing the country’s cryptocurrency sector.
According to the official release made on Monday, the central bank outlined conditions for trading digital assets on exchanges. The specific trading regime will be detailed in the exchange’s own rules, with the exchange responsible for calculating both market prices and weighted average prices for these instruments.
What new rules mean for Russia’s crypto market
A key component of the proposed framework is the creation of digital depositories, a new category of market participant tasked with maintaining records of cryptocurrencies and digital rights. These entities will be required to maintain minimum equity capital ranging from 50 million to 250 million rubles.
The exact capital requirement will vary depending on the scope of operations, particularly whether the depository works with open distributed ledgers or handles post-trade settlements.
The regulator has specified that the assets forming a digital depository’s equity capital must be liquid, and any financial assets included must meet high credit quality standards. Similar capital and operational requirements are being applied to operators of electronic platforms, which will perform settlement functions for digital financial assets using nominal accounts.
The draft rules also establish detailed rules for accounting digital currencies and digital rights. These include requirements regarding information on depositors, system access recipients, and the assets being recorded. The procedures for opening and maintaining digital and other types of accounts have been defined as well.
In practice, digital depositories are expected to function in a manner comparable to traditional securities depositories. The Bank of Russia will maintain the official register of digital depositories.
Digital assets bill moves forward
A week ago, Russia’s State Duma also approved a comprehensive digital assets regulation bill in its second and third readings on July 21, 2026.
The legislation, known as Bill No. 1194918-8 “On Digital Currencies and Digital Rights,” formally classifies cryptocurrencies like Bitcoin as legal property. This recognition grants holders clearer legal rights and protections in various civil matters, including bankruptcy cases, divorce proceedings, and other court disputes.
The bill upholds Russia’s existing ban on using digital currencies for domestic payments, preserving the ruble as the country’s sole legal tender for internal transactions. At the same time, it opens the door for limited use of cryptocurrencies in cross-border payments by introducing a specific exception for international transactions.
Structured environment for crypto in Russia
The latest developments mark a further step in Russia’s approach to regulating the crypto sector. For years, the country has maintained a cautious stance toward cryptocurrencies while exploring blockchain technology for various applications.
The new regulatory packages aim to create a structured environment for trading and custody of digital assets while incorporating safeguards similar to those in traditional financial markets.
The move comes amid global interest in clearer crypto regulations. By defining capital requirements, operational standards, and accounting rules, Russian authorities appear to be laying the groundwork for licensed participants to offer services related to digital currencies in a controlled manner.
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