Overview
- The Bank of Russia published a set of draft implementing regulations on July 28 that translate the new digital assets law into detailed rules for exchanges, custodians and settlement providers.
- Drafts create a new category called digital depositories that must keep minimum equity of 50 million to 250 million rubles in liquid, high‑quality assets depending on services they provide.
- Exchanges would set internal rulebooks, calculate market and volume‑weighted average prices for listed assets, report trading data to the central bank and have formal procedures to suspend trading.
- The rules are open for public consultation now, take effect on Sept. 1, 2026, and require full compliance by July 2027 while registration and transition windows run into mid‑2027.
- Officials and industry participants say the capital tiers, liquidity tests and reporting duties favor well‑funded banks as primary on‑ramps, limit retail access through purchase caps, and allow approved crypto for cross‑border commercial use while keeping domestic payments banned.