By Lina Irawan 
Russia has officially registered its first cryptocurrency exchange operators and digital asset custodians, marking a major milestone in the country’s evolving financial landscape under a newly enacted regulatory framework that officially took effect on September 1.
The Bank of Russia published its inaugural official registers of authorized cryptocurrency market operators, establishing a formal legal pathway for digital asset trading and custody services within the jurisdiction. The landmark announcement lists four specialized cryptocurrency exchange operators and five approved digital custodians, bringing institutional oversight to a sector that has long operated in a gray area.
Among the most notable developments in the central bank’s announcement is the inclusion of Sberbank, Russia’s largest financial institution, which has secured a coveted spot on the digital custodian list. Sberbank is joined in the custody sector by Atomyze, Voltari, and Cloud Infrastructure. Meanwhile, the crypto exchange operator list features T-Invest Lab, Zefir, and Sistema-Crypto. Notably, VTB Bank, another heavyweight in the Russian banking sector, secured placement on both the exchange operator and custodian lists, signaling broad institutional participation from traditional financial titans.
The regulatory green light follows closely on the heels of announcements from Sberbank regarding its strategic timeline for digital asset products. On Monday, the banking giant revealed that it had successfully applied for digital custodian status and outlined ambitious plans to launch its inaugural cryptocurrency products on December 1. According to the institution’s disclosures, the bank initially plans to provide support for major digital assets, specifically Bitcoin, Ether, and the stablecoin USDt, integrating these offerings directly into its existing consumer and corporate interfaces, including SberBank Online, SberInvestments, and SberBusiness platforms.
These sweeping developments unfold against the backdrop of significant legislative shifts in Moscow. The formal registrations are the direct result of a comprehensive crypto bill signed into law by Russian President Vladimir Putin in August. This crucial piece of legislation established a meticulously structured regulatory framework governing cryptocurrency exchanges, digital custodians, specialized brokers, and domestic investors. By placing the domestic market firmly under the regulatory oversight of the Bank of Russia, the framework aims to bring transparency and legal certainty to the industry. However, the legislation explicitly maintains Russia’s longstanding nationwide prohibition on using cryptocurrencies as a medium of exchange or a method of payment for goods and services within the country, ensuring that the ruble remains the sole legal tender for domestic commercial transactions.
The rollout of these official registries and the impending December launch by Sberbank represent a pivotal turning point for Russia’s financial sector. For years, the country’s stance on decentralized digital currencies fluctuated between outright skepticism, proposed bans, and cautious acceptance driven by international economic pressures. The establishment of a centralized registry overseen by the nation’s central bank indicates a strategic shift toward harnessing blockchain technology and digital asset infrastructure under strict state supervision.
As the December 1 launch date approaches, market observers will be watching closely to see how institutional clients and retail investors interact with Sberbank’s newly minted cryptocurrency offerings. The integration of prominent digital assets like Bitcoin, Ether, and Tether into widely used domestic banking platforms could dramatically reshape the accessibility of digital assets within the region. At the same time, the strict boundaries set by the new regulatory framework ensure that while digital asset custody and exchange operations are now officially recognized and institutionalized, the broader economy remains strictly anchored to traditional fiat payment systems under the watchful eye of the Bank of Russia.
Sagoh 
Basiran 
Nana Wu