Russia's law on digital currencies, effective September 1, is only partially implemented, focusing on cross-border trade transfers. The central bank's detailed rules are still pending, preventing full domestic crypto trading. The Bank of Russia expects all necessary documents to be ready by early December. Market participants note that infrastructure is largely ready and only needs adjustments to comply with new rules. Sberbank aims to complete its digital custody platform by December 1, while Finam plans to launch services by early 2027. Central Bank Governor Elvira Nabiullina said transferring crypto assets abroad is unrestricted, but investors should be aware that operations outside Russia are not protected by Russian law.
Russia's Digital Currency and Digital Rights Law came into effect on September 1, but only certain provisions have been implemented so far, primarily covering cross-border foreign trade transfers. The full rollout of domestic crypto trading remains on hold, as the central bank has yet to issue detailed regulations. The Bank of Russia stated that all necessary documents are expected to be ready by early December. Market participants said the underlying infrastructure is mostly prepared and only needs adjustments to meet the new requirements.
Sberbank plans to complete its digital custody platform by December 1, while Finam expects to start offering services by early 2027. Central Bank Governor Elvira Nabiullina noted that transferring crypto assets abroad is not restricted, but investors should keep in mind that operations outside Russia are not protected by Russian law.
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