Russian Crypto Trading Awaiting Central Bank Guidelines, Expected to Be Ready by December

The "Digital Currency and Digital Rights Law" in Russia, which took effect on September 1, has only been partially implemented, primarily concerning foreign trade cross-border transfers. Domestic crypto trading cannot be fully conducted yet due to the lack of key regulations. The Central Bank of Russia stated that all necessary documents are expected to be ready by early December. Market participants claim that the infrastructure is basically prepared and only needs adjustments according to the new requirements. Sberbank plans to complete the construction of a digital custodian institution by December 1, and Finam expects to provide services by early 2027. The Governor of the Central Bank of Russia, Elvira Nabiullina, stated that the transfer of crypto assets abroad is unrestricted, but operations abroad are not protected by Russian law, and investors should exercise caution.

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