Russia has officially registered its first cryptocurrency exchange operators and digital custodians, marking a significant step in establishing a regulated environment for digital assets. The Bank of Russia published these initial registers on September 1, the same day new crypto regulations took effect.
The regulations stem from a law signed in August by Russian President Vladimir Putin, which created a supervised framework for exchanges, custodians, brokers, and investors. The Bank of Russia will oversee the market, though the law maintains a ban on using cryptocurrency for payments.
Four exchange operators and five custodians are included in the initial registers. Among them, Sberbank, Russia’s largest bank, has been added to the custodian list. Sberbank stated it plans to launch its first crypto products by December 1, initially supporting Bitcoin, Ether, and USDt through its SberBank Online, SberInvestments, and SberBusiness platforms.
Other registered custodians include Atomyze, Voltari, and Cloud Infrastructure. T-Invest Lab, Zefir, and Sistema-Crypto are listed as crypto exchange operators. VTB Bank appears on both the exchange operator and custodian lists.
These registrations signify the establishment of a regulated environment for cryptocurrency operations in Russia, with the Bank of Russia actively overseeing the market. Sberbank’s planned product launch indicates a potential move towards integrating digital assets into traditional banking services within this new regulatory framework.
Why This Matters
The materials describe a narrow update: Russia has officially registered its first set of cryptocurrency exchange operators and digital custodians following the implementation of new crypto regulations on September 1. The registrations signify the establishment of a regulated framework for cryptocurrency operations in Russia.
Broader Context
Source materials place the factual news in this context: Russia registered its first crypto exchanges and custodians, including its largest bank, Sberbank, which plans to launch crypto products on Dec. 1.
