Russia has officially recognized its first batch of cryptocurrency exchange operators and digital asset custodians following the country’s implementation of new crypto regulations on Septembe
Russia has officially recognized its first batch of cryptocurrency exchange operators and digital asset custodians following the country’s implementation of new crypto regulations on September 1.
The Bank of Russia, the country’s central bank and primary financial regulator, released its inaugural lists of authorized crypto exchanges and custodians on Tuesday. The register names four exchange operators and five custodians permitted to provide digital asset services under the new legal framework.
This regulatory move marks a significant milestone for Russia’s cryptocurrency industry, as only companies listed in these registers are allowed to operate with digital assets at a national level.
Sberbank, Russia’s largest financial institution, has been included in the custodian list, alongside firms such as Atomyze, Voltari and Cloud Infrastructure. Digital custody services refer to secure management and storage of cryptocurrencies and digital assets on behalf of clients.
Meanwhile, three companies—T-Invest Lab, Zefir and Sistema-Crypto—have been recognized as official exchange operators, enabling them to facilitate cryptocurrency transactions. VTB Bank, another major Russian bank, features on both the custodian and exchange operator lists, reflecting its active expansion in the digital assets sector.
Mini dictionary: Sberbank is the largest bank in Russia, providing a broad spectrum of banking and financial services, including retail and corporate banking, wealth management, and, increasingly, digital finance solutions.
Sberbank announced it had applied for digital custodian status and intends to launch its first cryptocurrency services on December 1. The bank stated its initial offering would include support for Bitcoin (BTC), Ether (ETH) and USDt (USDT), accessible via its SberBank Online, SberInvestments and SberBusiness platforms.
Sberbank outlined plans to begin with major cryptocurrencies, focusing on Bitcoin, Ether and USDt, integrated with its existing digital channels such as SberBank Online and SberBusiness.
The registration of these companies follows legislative changes signed into law by Russian President Vladimir Putin in August. The new law establishes a regulated environment for cryptocurrency exchanges, custodians, brokers and investors, placing the market under the Bank of Russia’s oversight.
Despite permitting regulated crypto activities, the law maintains Russia’s existing prohibition on using digital assets for payment of goods and services. These restrictions were reaffirmed as part of the regulatory overhaul.
The legal changes introduce clear roles for operators and custodians within a central regulatory framework, while keeping restrictions on the use of crypto for payments in place.
This initiative positions Russia to further develop its domestic digital asset market while reinforcing state control over cryptocurrency operations and adhering to its restrictive stance on crypto payments.
The post Bank of Russia registers first 4 crypto exchanges and 5 digital custodians appeared first on COINTURK NEWS.
