A Self-Regulatory Organization (SRO) to Be Created for Russian Crypto Exchanges

cryptonews.ruPublished on 2026-08-04Last updated on 2026-08-04

Abstract

Russia will establish a Self-Regulatory Organization (SRO) for digital currency exchange operators. The founding congress is scheduled for September 1st in Moscow. The move is linked to the new "On Digital Currency and Digital Rights" law, passed in July, with key provisions taking effect on September 1, 2026. The Central Bank of Russia stated it is creating a regulated infrastructure for crypto assets, which will include exchanges and digital depositories. Legal expert Andrey Tugarin noted that exchanges face the most practical questions following the law's adoption, as many previously operated in a legal grey area. Key issues include the registration process with the Central Bank, international operations, cryptocurrency storage, and sanctions risks. The proposed SRO aims to serve as a platform for exchanges to consolidate these questions and communicate with regulators. The law provides a transition period until July 1, 2027, for market participants to obtain necessary licenses and comply with the new requirements.

Russia will create a self-regulatory organization (SRO) for digital currency exchange operators. The founding congress will be held on September 1 in Moscow, announced Sergey Khitrov, founder of the Blockchain Life conference.

Khitrov clarified that he is not a founder of the organization but merely supported and announced its launch. Details about the structure and answers to market participants' questions will be presented at the congress.

The creation of the SRO is linked to the new law "On Digital Currency and Digital Rights." On July 21, the State Duma adopted the document in the second and third readings, and the Federation Council approved it on July 24. The main provisions are set to come into force on September 1, 2026.

The Bank of Russia reported that a regulated infrastructure is being created for the circulation of cryptocurrencies. It will include crypto exchanges and digital depositaries. The former will be able to buy and sell digital currencies, while the latter will account for rights to such assets.

In a comment to ForkLog, Andrey Tugarin, founder of the legal company GMT Legal, noted that exchanges face the most practical questions following the adoption of the law. Unlike depositaries, brokers, managers, and exchanges, many crypto exchanges previously operated without a separate legal framework and thus found themselves in a gray area.

He listed the key issues as the procedure for entering the Central Bank's register, interaction with the international circuit, storage of cryptocurrency, and sanctions risks.

According to Tugarin, the association of exchanges should become a platform for gathering these questions and communicating with the Bank of Russia. He also emphasized that he is not involved in establishing the SRO and is not its organizer.

The law introduces a transition period until July 1, 2027. During this time, market participants must obtain the necessary permits and bring their activities into compliance with the new requirements.

Earlier, ForkLog discussed the controversial aspects of the bill with lawyers and market participants. Read our article on why Bitcoin wallet keys will have to be shared with a digital depositary and how the state plans to monitor every crypto transaction within the country.

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A Self-Regulatory Organization (SRO) to Be Created for Russian Crypto Exchanges

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