Russia crypto regulation has reached a milestone: the country has its first legally recognized crypto custodians and exchange providers. On Oct. 6, the Bank of Russia added five companies to a new register of digital depositories and four to a register of organizations that exchange digital currencies. Big state-linked banks are at the top of the list, and that tells you what kind of crypto market Moscow wants: one that runs through banks it already supervises.
Russia crypto regulation: who made the first lists
According to a detailed breakdown by >Digital Compliance and a report by >AK&M, the registers contain eight separate companies:
| Company | Status |
|---|---|
| VTB Bank | Digital depository and exchange provider |
| Sberbank | Digital depository |
| Vaultary | Digital depository |
| Atomyze | Digital depository |
| Cloud Infrastructure | Digital depository |
| T-Invest Lab | Exchange provider |
| Zefir | Exchange provider |
| Sistema-Crypto | Exchange provider |
All eight were admitted under the transitional provisions of Federal Law No. 282-FZ. In practice, a depository keeps records of a client’s crypto and controls access to blockchain addresses. An exchange provider sells crypto to the client from its own account, so it is the counterparty in the trade rather than a matching venue.
VTB is the only firm that holds both roles. T-Technologies split them across two group companies: T-Invest Lab exchanges and Atomyze holds the coins. Reports by Interfax, cited by Digital Compliance, link Sistema-Crypto and Cloud Infrastructure to the MTS Fintech group.
Sberbank’s December plan
Sberbank, Russia’s largest lender, only obtained depository status. In a statement to Interfax on Oct. 5, it said it plans to offer BTC, ETH and USDT through SberBank Online, SberInvestments and SberBusiness from Dec. 1, 2026, subject to the regulatory framework being ready. Sber has not yet said which exchange provider will actually sell the coins to its clients.
VTB has outlined a faster timeline. It plans access through VTB My Investments in November and direct exchange through the bank in December. It has already run a stablecoin pilot with corporate brokerage clients.
The Russia crypto regulation deadlines that matter
- Sept. 1, 2027: first-wave participants must fully comply with the law. Transaction and record-keeping rules apply from the day of admission.
- June 30, 2027: the end of a transition period for residents who trade crypto systematically before registration.
- July 1, 2027: banks must start rejecting transfers to suspected unauthorized crypto operators.
What retail investors will be able to buy
Not much, at first. Under Article 31 of the law, non-qualified individuals must pass a test, accept a risk notice and stay within a value cap. A draft Bank of Russia ordinance (No. 7441-U) sets that cap at RUB 300,000 per calendar year through a given broker. It names BTC and ETH as eligible digital currencies and USDT as an admissible foreign digital instrument. The ordinance was still going through Ministry of Justice registration at the time of writing, so the wording could change.
That means the November and December bank launches are plans, not guarantees. Without final asset-admission rules and an approved testing procedure, retail access cannot legally begin.
CryptoVank’s take
Russia has chosen a bank-first model. It is the opposite of the open, exchange-led markets in the U.S. and Asia, and closer in spirit to how Singapore is letting large banks into custody (see Standard Chartered’s plans). There are two likely effects:
- Volume moves onshore, slowly. Russians already use crypto heavily through peer-to-peer and offshore channels. A legal route through Sber or VTB may pull some of that activity into the regulated system, but a RUB 300,000 annual cap limits how much.
- USDT is a curious choice. Allowing a dollar stablecoin whose issuer can freeze addresses adds compliance risk for Russian institutions. Digital Compliance flags this directly. It is worth watching whether USDT survives into the final ordinance.
For the global market, the immediate price effect is small. As of 15:25 UTC on Oct. 9, CoinGecko showed bitcoin at $82,872 and ether at $2,486.58, with the total crypto market down about 3.1% over 24 hours. The bigger story is structural: another G20 economy is building legal rails for crypto, even if they are narrow.
For a broader look at how rules differ worldwide, see our explainer on how crypto ETFs work and our coverage of Greece’s proposed 10% crypto tax.
Russia crypto regulation FAQ
Is crypto legal in Russia now?
Russia passed Federal Law No. 282-FZ to regulate digital currency circulation, and the first licensed depositories and exchange providers were registered on Oct. 6, 2026. Retail access still depends on further rules.
Can I buy bitcoin through Sberbank today?
No. Sberbank plans to launch on Dec. 1, 2026, if the regulatory framework is ready.
How much can a regular investor buy?
A draft ordinance caps non-qualified individuals at RUB 300,000 a year through a broker. It is not final.
Which coins are allowed?
The draft names BTC and ETH as digital currencies and USDT as a foreign digital instrument.
Sources
- >Digital Compliance: Russia’s first crypto exchange providers and digital depositories
- >AK&M: The Central Bank has included the first digital depositories and crypto exchanges in the register
- >The Paypers: Bank of Russia lists first crypto operators
- >CoinGecko market data, Oct. 9, 2026, 15:25 UTC
This article is for information only and is not financial or legal advice.
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