Russia outlines new digital depository rules ahead of fall crypto framework roll-out
CoinDesk 2026-07-28 14:49:50
Context: The Bank of Russia has unveiled new draft regulations to create organized cryptocurrency markets, extending existing securities market rules to digital assets, ahead of a digital assets framework roll-out in September. The proposed rules aim to establish regulated "digital depositories" with tiered capital requirements. This move comes as the European Union announced a new sanctions package targeting Russian-linked crypto firms.
Key Facts
- The Bank of Russia's draft regulations propose establishing "digital depositories" with tiered capital requirements ranging from 50 million to 250 million rubles, depending on the services provided and the types of assets held.
- The capital requirements for digital depositories would be as follows: 250 million rubles ($2.8 million) for settlement depositories, 100 million rubles ($1.1 million) for firms that control crypto addresses or hold assets with foreign custodians, and 50 million rubles ($570,000) for other digital depositories.
- The regulations would extend existing systems used in Russia's securities markets, including exchange trading, custody, record-keeping, and disclosure rules, to digital assets.
- The central bank will maintain registers of digital depositories, crypto exchange operators, and companies that issue digital financial assets.
- The draft rules are open for public assessment and are part of a digital assets bill adopted by the State Duma on July 21 and approved by the Federation Council on July 24, with the cryptocurrency framework scheduled to come into full force by September.