Russia Registers First Crypto Market Participants
Digital depositories will keep track of digital currencies and digital rights, and also provide customers access to identifier addresses where such assets are recorded.
Consensus
- The Central Bank of Russia registered nine organizations in cryptocurrency market registries on October 6.
- The registration includes four organizations as crypto-exchange operators and five as digital depositaries.
- The new regulations governing market participation came into effect on October 5.
- Digital depositaries are authorized to maintain records of digital currencies and rights, provide access to identifiers, and facilitate transfers.
- Crypto-exchange operators may buy and sell digital currencies on their own behalf outside organized trading.
- Organizations must comply with legal requirements for digital currencies and rights by September 1, 2027.
- The Central Bank determines the procedure for inclusion in the registries and the required documentation.
Points of divergence
- The Central Bank granted digital depositary licenses to VTB, Sberbank, Atomayz (part of T-Tekhnologii), Voltari (part of Web-3), and Cloud Infrastructure (owned by Sistema-Kripto). — kommersant
- The Central Bank listed Voltari and Cloud Infrastructure as part of the digital depositary registry, but did not specify ownership ties to Web-3 or Sistema-Kripto. — vedomosti
- For securities market professionals, applications will be processed in an accelerated manner, taking one day, until July 1, 2027. — kommersant
- No mention of accelerated processing for securities market professionals. — vedomosti
Coverage (5 sources)
- First banks and crypto-exchanges received license from Central Bank of Russia for digital financial market — Вести
- In Russia, the first step towards new infrastructure for the crypto market has been made. — Baza
- Central Bank registered first participants of the cryptocurrency market — Коммерсантъ
- Central Bank added four crypto-exchange organizations to the registry — Ведомости
- Central Bank of Russia issued licenses to Sberbank, VTB, and other players to access the crypto market — Интерфакс