The Bank of Russia has rolled out draft regulations that would set the stage for the country’s first officially regulated cryptocurrency market. These new rules are designed to govern how exchanges, digital asset custodians, and settlement providers operate under government supervision.
These proposals arrived shortly after the State Duma pushed forward legislation that could permit structured crypto trading as soon as September. The move marks a significant shift in Russia’s stance toward digital assets, aiming to bring more transparency and security to the sector.
Under the draft, exchanges would need to adhere to registration and licensing requirements, while custodians would be held to strict standards for safeguarding digital assets. Settlement providers, meanwhile, would ensure that transactions meet compliance and anti-money laundering rules. Together, these measures are intended to create a controlled environment that supports legal crypto trading without stifling innovation.
As the global crypto market evolves, Russia’s move to regulate reflects a trend seen elsewhere where authorities seek to balance investor protection with market growth. This regulatory framework could open doors for more institutional involvement and increase confidence among retail traders.
