Russia’s central bank has registered the country’s first authorized crypto trading platform operators and digital asset custodians under new rules that took effect on Sept. 1. The initial batch includes four trading platform operators and five custody institutions. Sberbank, Russia’s largest bank, appears on the custody list, while VTB Bank is listed in both categories.
Sberbank said it has applied for digital asset custodian status and plans to launch its first crypto products on Dec. 1. At the start, the offering is set to support Bitcoin (BTC), Ether (ETH), and USDT, with access available through the bank’s existing channels including SberBank Online, SberInvestments, and SberBusiness.
The registrations follow a crypto regulation law signed by President Vladimir Putin in August. The law created a supervisory framework covering trading platforms, custodians, brokers, and investors, with oversight assigned to the Bank of Russia. The use of cryptocurrencies to pay for goods and services remains prohibited.
The Bank of Russia said on Oct. 7 that it had registered the country’s first authorized crypto trading platform operators and digital asset custodians under new crypto regulations that took effect on Sept. 1.
The first batch includes four trading platform operators and five custody institutions. Sberbank, Russia’s largest bank, has been included on the custody list, while VTB Bank appears in both the trading platform operator and custody categories.
Sberbank plans first crypto products for Dec. 1
Sberbank said it has applied for digital asset custodian status and plans to roll out its first crypto products on Dec. 1. The initial lineup will support Bitcoin (BTC), Ether (ETH), and USDT.
Users will be able to access the related services through the bank’s existing platforms, including SberBank Online, SberInvestments, and SberBusiness.
Registrations follow August crypto law
The registrations came after Russian President Vladimir Putin signed a crypto regulation bill in August. The law established a regulatory framework covering trading platforms, custodians, brokers, and investors, with the Bank of Russia responsible for supervision.
Russia still prohibits the use of cryptocurrencies to pay for goods and services.
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