Russia's crypto market is moving into registers: what is final and what may still change

Article

Russia is developing a regulated framework for digital-currency exchange organisations and digital depositaries. Federal Law No. 282-FZ has been enacted, while the Bank of Russia is publishing the implementing acts that define qualification and register procedures.

What was published on 27 August

The Bank of Russia listed Regulation No. 890-P on qualification requirements and Instruction No. 7429-U on the relevant registers. As of 30 August, both were marked as undergoing state registration with the Ministry of Justice, and the regulator warned that amendments may result from registration.

What companies should verify

• Whether the planned activity is exchange, custody, intermediation or issuance of digital rights.
• Which new or existing official register is applicable.
• Requirements for management, owners, controls, AML/KYC, evidence and reporting.
• The final registered text, effective date and transitional provisions.

The RUB 300,000 limit

The statutory framework provides for testing, access to eligible liquid assets and an annual limit for non-qualified investors through each intermediary. Detailed eligibility criteria were published in a draft Bank of Russia instruction for consultation, so articles must distinguish the enacted framework from parameters that may still be refined.

RURChain tracks a law, draft act, Ministry of Justice registration, official publication and effective date as separate states: https://rurchain.ru/en/services/regulatory-monitoring/