Russia's Central Bank Issues Draft Rules to Regulate Cryptocurrency Trading

The Central Bank of Russia has released a draft regulatory framework that would bring cryptocurrency trading under the same supervisory regime as traditional securities and foreign exchange. The proposal requires crypto exchanges to report transactions, publish real‑time prices, monitor for market manipulation and submit periodic activity reports to the bank. Custodians of digital assets must hold capital of between 50 million and 250 million rubles and meet additional custody and record‑keeping standards. The draft adds the definition of “digital currency” to the regulator’s organized‑trading rules, creating the first legal basis for crypto operators in Russia. The next step is parliamentary approval by the State Duma, which is already preparing comprehensive legislation that aims to enable the use of digital assets for international settlements while navigating sanctions imposed after the annexation of Crimea and the invasion of Ukraine.