Russia opens crypto-register applications under Bank of Russia rules from October 5

  • Bank of Russia opens register applications for crypto exchanges and digital depositories.
  • October 5 marks the rules' effective date and electronic application launch.
  • Russia's crypto law took effect September 1 and sets a 300,000-ruble annual limit.

Crypto exchange operators and digital depositories in Russia can apply for entry into official registers from October 5 under new Bank of Russia rules. The framework also covers operators of information systems used to issue digital financial rights and sets requirements for managers, certain officers, application documents and regulatory decisions. The ordinary review period is 30 working days for exchange operators and 60 working days for digital depositories, beginning once the required documentation is complete. Some banks, brokers and participants in an experimental regime may use a faster notification route if eligible, but qualifying firms must submit documents before September 1, 2027. Russia's crypto law, effective September 1, envisions regulated buying and selling through intermediaries, testing for qualified and non-qualified investors, and a 300,000-ruble annual purchase limit per intermediary for non-qualified investors. The Bank of Russia's separate draft directive has proposed Bitcoin, Ethereum and Tether's USDT for public exchange trading, but the October admission rules do not finalize that asset list. Individual register decisions and the separate asset rules remain the next milestones.

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