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World desk3 min

Russia Registers Its First Crypto Exchangers and Digital Depositories

Russia's central bank admitted five digital depositories and four digital-currency exchangers to its registers, but registration does not confirm that customer services have launched.
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On 6 October 2026, the Bank of Russia said it had admitted five digital depositories and four organizations exchanging digital currencies to its new registers. Interfax identified the organizations, including Sberbank and VTB. Registration is a regulatory milestone—not confirmation that all nine have opened services to customers.

Who entered the first registers?

The Bank of Russia announced the admission counts but did not name the organizations in the text of its announcement. Interfax reported the following names:

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Register Organizations reported by Interfax Count announced by the Bank of Russia
Digital depositories Sberbank, VTB, JSC Voltari, LLC Cloud Infrastructure, and Atomyze 5
Digital-currency exchangers VTB, LLC Zefir, LLC Sistema Crypto, and T-Invest Lab 4

VTB appears in both lists. The names are attributed to Interfax’s report of 6 October; the regulator’s announcement confirms the totals and describes the categories, rather than listing these organizations in its text.

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What can a depository or exchanger do?

The two registrations cover different roles. The Bank of Russia describes the functions as follows:

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Digital-currency exchanger Buy and sell digital currencies on its own behalf and at its own expense. Activity is outside organized trading.

These are descriptions of what the admitted categories may do, not a service-by-service confirmation for each named organization. The Bank’s 6 October announcement confirms admission, not that every registrant has launched a customer-facing product.

Does registration mean customers can trade now?

No. Admission to a register should not be confused with a live consumer service. Interfax reported VTB’s expectation that access for a wider range of investors through VTB My Investments could open in November 2026, with access directly through the bank’s crypto exchange expected in December. Those dates were company plans reported by Interfax, not confirmed launch dates. The Bank of Russia’s announcement did not say that all registrants had begun serving customers.

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What law and transition rules apply?

The Bank of Russia said the first admissions used transitional provisions of the law “On Digital Currencies and Digital Rights,” which entered into force on 1 September 2026. It said registered participants must follow rules for conducting and recording transactions and operations, and have until 1 September 2027 to bring their operations into compliance with the law.

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The regulator’s registration procedure covers digital depositories, cryptocurrency exchanges, and operators of information systems in which digital financial rights are issued. The Bank said the relevant regulations were registered with the Ministry of Justice and took effect on 5 October 2026. Its 24 September explanation of the register procedure sets out that broader scope.

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What investor access framework did the regulator describe?

In a 21 July overview, the Bank of Russia said non-qualified investors would be able to buy the most liquid cryptocurrencies after passing a test, subject to a ₽300,000 annual limit through one intermediary. Qualified investors would also have to pass the test, but the overview stated no amount limit for them. This was the regulator’s description of the framework at that time; it does not, by itself, settle every implementation detail. See the Bank’s 21 July overview.

What remains uncertain about operating requirements?

The Bank of Russia’s 27 July announcement described draft regulations proposing minimum equity of ₽50 million to ₽250 million for digital depositories, depending on planned activities such as work with open ledgers or post-trade settlement. The announcement presented the range as a draft for regulatory-impact assessment, so it should not be treated as a confirmed final requirement. The Bank’s draft-regulation notice explains that qualification.

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Does Russian registration remove cross-border restrictions?

No. Russian registration does not override restrictions imposed by another jurisdiction. The EU’s consolidated Council Decision 2014/512/CFSP, dated 27 June 2026, includes a prohibition on transactions with entities established in Russia that provide crypto-asset services or platforms enabling crypto-asset exchange or transfer, subject to stated exceptions and derogations. Its application depends on the parties and transaction; registration in Russia alone does not establish that a service is available to EU persons.

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