To provide custodial services, digital depositories will be required to register with the Central Bank and meet certain requirements. In particular, these concern software and information security. Crypto exchanges, in turn, will need to comply with capital requirements. Participants in foreign economic activity will be able to pay for goods and services with cryptocurrency. At the same time, crypto exchanges will be allowed to use it to pay for securities, digital rights, and other digital currencies. However, everyone else will be able to use cryptocurrencies exclusively as an investment tool. Only coins with high capitalization, liquidity, and a long price history may be listed on Russian exchanges. Earlier, First Deputy Governor of the Central Bank Vladimir Chistyukhin noted that BTC, ETH, and USDT meet these criteria. Investing in cryptocurrencies will also require passing a test. The threshold for maximum portfolio size restrictions for non-qualified investors will be set later by the Central Bank. The regulator previously said it could amount to RUB 300,000 ($3,800).
News Regulation
Russia has adopted the law “On Digital Currency and Digital Rights”
To provide custodial services, digital depositories will be required to register with the Central Bank and meet certain requirements. In particular, these concern software and information security. Cr...