The Central Bank of Russia has also developed requirements for…
The Central Bank of Russia has also developed requirements for digital depositories that will maintain records of cryptocurrencies and digital rights.
Consensus
- The Central Bank of Russia has published draft regulatory acts for the organized market of cryptocurrencies and digital financial assets.
- The market is scheduled to launch on September 1, 2026.
- The draft rules include requirements for digital depositaries, including minimum capital of 50–250 million rubles.
- Digital depositaries must have liquid assets with high credit quality.
- The Central Bank will maintain the registry of digital depositaries.
- Rules for organized trading of digital assets will be defined by exchange regulations.
- Exchanges will calculate market and weighted average prices for digital assets.
- Operators of electronic platforms will perform settlement operations using nominal accounts.
- The law on digital currencies and digital rights was approved by the Council of the Federation on July 24, 2024, and passed by the State Duma on July 21, 2024.
- The Central Bank is accepting public feedback on the draft regulations until August 12, 2024.
Points of divergence
- Margin trading with leverage will be available to both qualified and non-qualified investors, with future limits on volume and assets for non-qualified investors. — kommersant
- A broker can open a margin position only if the trading organizer provides an official risk rate for the asset. — kommersant
- To combine crypto assets and digital rights in one position, clients must use the same technological platform or information system. — kommersant
- The new market will operate on a model similar to other financial instruments, with no significant differences from traditional mechanisms. — riamo
- Economist Yuri Tverdokhleb stated that cryptocurrencies are an additional financial tool, not a replacement for existing instruments, and their role in the economy will not significantly increase. — riamo
- Some provisions of the law, including those on non-resident digital depositaries and money transfer restrictions, will take effect on July and September 2027. — vedomosti
- The Central Bank will define rules for accounting digital assets and digital rights, as well as the composition of data on depositors, access recipients, and assets. — interfax
- The Central Bank will establish requirements for opening and maintaining digital and other accounts. — m24
Coverage (6 sources)
- ЦБ опубликовал правила маржинальной торговли криптовалютой — Коммерсантъ
- Central Bank Publishes Rules for Launching the Cryptocurrency Market in Russia — РИАМО
- Central Bank prepared first draft acts to launch the cryptocurrency market in Russia — Ведомости
- Central Bank Published First Regulatory Acts to Launch the Crypto Market — Коммерсантъ
- Central Bank of Russia Defines Conditions for Cryptocurrency Trading — Интерфакс
- Central Bank prepared regulatory basis for launching cryptocurrency market in Russia — Москва 24
Key entities
- CB
- Russia
- Bank of Russia
- Moscow
- INTERFAX.RU
- Central Bank
- Nikita Simonov
- Bank
- Federal Press
- Nikolay Vinokurov
- Yuri Tverdokhlebov
- Фотобанк Лори Центробанк
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