Russia Establishes New Rules for Digital Depository Ahead of Cryptocurrency System Deployment

cryptonews.ruPubblicato 2026-07-29Pubblicato ultima volta 2026-07-29

Introduzione

Russia is creating new rules for digital depositaries ahead of the launch of its cryptocurrency system. The proposals will extend existing securities market regulations—covering trading, custody, record-keeping, and disclosure—to digital assets. Within this framework, regulated "digital depositaries" will be established to register holdings of cryptocurrency and other digital assets. Their capital requirements will range from 50 million rubles ($570,000) to 250 million rubles ($2.8 million), depending on services provided. Settlement depositaries require the highest capital (250 million rubles), with lower thresholds for firms controlling crypto addresses or using foreign depositaries (100 million rubles) and for other digital depositaries (50 million rubles). Assets counted toward capital must be liquid and meet the central bank's credit quality standards. These rules will also apply to operators of electronic platforms trading digital financial assets. The Bank of Russia will maintain registers for these depositaries, crypto exchange operators, and issuers of digital financial assets. The regulations are based on a digital assets bill passed by parliament in July, with the full crypto system expected by September. The proposals are currently open for public feedback. This announcement follows the European Union's latest sanctions package targeting 14 crypto firms.

The proposals will extend the systems already used in Russian securities markets, including rules for exchange trading, custody, accounting, and information disclosure, to digital assets.

Within this framework, 'digital depositories' will be created—regulated companies that will register holdings of cryptocurrencies and other digital assets. They will require capital from 50 million ($570,000) to 250 million rubles ($2.8 million), depending on the services they provide.

Settlement depositories will require 250 million rubles ($2.8 million) in capital. The requirement is reduced to 100 million rubles ($1.1 million) for firms controlling cryptocurrency addresses or holding assets with foreign depositories, and 50 million rubles ($570,000) for other digital depositories.

Assets counted towards these capital requirements must be liquid, and eligible financial assets must meet the central bank's credit quality standards. The requirements will also apply to electronic platform operators who conduct transactions with digital financial assets.

The central bank will maintain registers of digital depositories, cryptocurrency exchange operators, and companies issuing digital financial assets.

The rules were developed in accordance with the digital assets bill adopted by the State Duma on July 21 and approved by the Federation Council on July 24. The cryptocurrency system is planned to come into full force by September. The central bank's proposals are not yet final and have been published for public comment.

The central bank's drafts and announcements on digital asset rules came four days after the European Union (EU) introduced its 21st sanctions package targeting 14 cryptocurrency firms, including the $120 billion stablecoin network A7.

Domande pertinenti

QWhat is the main purpose of the new digital depository rules being created in Russia?

AThe new rules aim to extend existing systems used on Russian securities markets (covering exchange trading, storage, accounting, and information disclosure) to digital assets, and to create regulated 'digital depositaries' for registering holdings of cryptocurrencies and other digital assets.

QWhat are the capital requirements for different types of digital depositaries under the proposed rules?

ASettlement depositaries require 250 million rubles ($2.8 million). Firms controlling cryptocurrency addresses or holding assets with foreign depositaries require 100 million rubles ($1.1 million). Other digital depositaries require 50 million rubles ($570,000).

QWhat institution will maintain the registries for key digital asset market participants according to the article?

AThe Central Bank of Russia will maintain registries for digital depositaries, cryptocurrency exchange operators, and companies issuing digital financial assets.

QWhat legislation are these new digital asset rules based on, and when is the full system expected to be operational?

AThe rules were developed in line with a digital assets bill passed by the State Duma on July 21 and approved by the Federation Council on July 24. The full cryptocurrency system is expected to be operational by September.

QHow does the timeline of the Russian central bank's rule announcements relate to recent actions by the European Union mentioned in the article?

AThe Central Bank of Russia's draft rules and announcements regarding digital assets came just four days after the European Union introduced its 21st package of sanctions targeting 14 cryptocurrency firms, including the $120 billion stablecoin network A7.

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