Russia clears first crypto exchanges, custodians under new law
Russia's central bank has published its first official registers of authorized cryptocurrency exchange operators and digital custodians under a new regulatory framework that took effect on Sept. 1. The lists include four exchange operators and five custodians, among them state-linked lenders Sberbank and VTB Bank.
Why It Matters
This marks the first formal recognition of crypto market infrastructure under Russia's newly enacted law, bringing major financial institutions into regulated digital-asset services while preserving the ban on using crypto as payment. The registrations set the groundwork for licensed product rollouts, including Sberbank's planned December launch.
Key Facts
- Regulation effective date: Sept. 1
- Registers published by: Bank of Russia
- Number of exchange operators listed: 4
- Number of custodians listed: 5
- Notable custodians: Sberbank, Atomyze, Voltari, Cloud Infrastructure
The Bank of Russia on Tuesday released the country's inaugural registers of authorised cryptocurrency exchange operators and digital custodians, completing a key step in implementing a new crypto law signed by President Vladimir Putin in August. The law, which came into force on Sept. 1, establishes a regulatory framework for exchanges, custodians, brokers and investors and places oversight responsibility with the central bank.
The published lists name four exchange operators and five custodians. Among the organisations authorised as custodians is Sberbank, Russia's largest bank. VTB Bank appears on both the custodian and exchange operator lists. Other named firms include Atomyze, Voltari and Cloud Infrastructure as custodians, and T-Invest Lab, Zefir and Sistema-Crypto as exchange operators.
Sberbank confirmed it had applied for digital custodian status and said it intends to roll out crypto products starting Dec. 1. The bank indicated its initial offering will support Bitcoin (BTC), Ether (ETH) and USDt (USDT) through existing channels including SberBank Online, SberInvestments and SberBusiness.
Although the new law creates a regulated market for crypto services, it retains Russia's prohibition on using cryptocurrencies as a means of payment for goods and services. The regulatory move follows other digital currency initiatives in Russia earlier this year, including activity around the central bank's digital ruble.
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