Bank of Russia opens crypto exchange and custodian license applications

The Bank of Russia has opened applications for crypto exchanges and custodians to join its official registers, with a 30-working-day review period and the first entries potentially granted before year-end. The admission rules took effect October 5 under the framework set by Russia's Federal Law 282-FZ on digital currencies, which came into force September 1.

• Exchanges must hold at least 15 million rubles in own funds and meet qualification, management and data-resilience requirements; digital depositories face higher, scope-dependent capital thresholds.
• Applications are filed electronically through the regulator's personal cabinet, with decisions notified within three working days after review.
• Non-qualified retail investors face a 300,000-ruble annual purchase cap through a single authorized intermediary after a knowledge test; qualified investors face no monetary limit.

Opening the registers does not authorize any firm automatically — each applicant receives an individual decision. Market participants have until July 1, 2027 to obtain the required authorizations, and the precise list of assets available to retail investors remains subject to separate Bank of Russia decisions.