The Bank of Russia has released a draft regulatory framework for the “organized trading” of digital assets and digital rights, according to The Block. The proposal is designed to set market-entry and operating rules for crypto exchanges and digital custody institutions.
Under the draft, exchanges would be required to establish their trading procedures through internal rulebooks and calculate both market prices and weighted average prices. The proposal also introduces digital custody institutions responsible for record-keeping. These entities would need registered capital ranging from 50 million to 250 million rubles, and that capital must consist of highly liquid, high-credit-quality assets.
Electronic platform operators would face similar capital requirements and would also take on settlement functions for nominee accounts tied to digital financial assets. The draft has entered the regulatory impact assessment stage and is intended to align with an earlier crypto market law. It would keep the domestic ban on using cryptocurrencies for payments in place while creating a framework for compliant retail trading.
The Bank of Russia has published a draft regulation for the “organized trading” of digital assets and digital rights, according to The Block, setting out proposed market-entry and operating rules for crypto exchanges and digital custody institutions.
Under the draft, exchanges would have to define their trading process in their own rulebooks and calculate both market prices and weighted average prices. The proposal also calls for digital custody institutions responsible for record-keeping. Their registered capital must range from 50 million to 250 million rubles, and that capital must be held in highly liquid, high-credit-quality assets.
Operators of electronic platforms would face similar capital requirements and would also be responsible for settlement functions for nominee accounts linked to digital financial assets. The draft has entered the regulatory impact assessment stage and is designed to connect with a previously adopted crypto market law. It would preserve the ban on domestic cryptocurrency payments while providing a framework for compliant retail trading.
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