Bank of Russia to open crypto exchange register applications on October 5
New Bank of Russia rules will allow crypto exchange operators and digital depositories to apply for official registration starting October 5, though individual approvals and retail asset guidelines remain pending.
Crypto exchange operators and digital depositories in Russia can begin applying for entry into official registers on October 5, according to a September 24 notice from the Bank of Russia. The admission framework establishes qualification criteria for managers and outlines documentation requirements, which also apply to operators of information systems used to issue digital financial rights.[2][1]
The central bank emphasized that submitting an application does not grant immediate approval or signal a trading launch date. Under the standard review process, regulators have 30 working days to decide on exchange applications and 60 working days for depository filings once all required documents are submitted. Certain existing banks, brokers, and experimental-regime participants may access a faster notification path, provided they submit documentation before September 1, 2027.[2][1]
The procedure puts into practice Russia's crypto framework enacted on September 1, which requires trading to take place through regulated intermediaries and imposes a 300,000-ruble annual purchase cap per intermediary on non-qualified investors. However, the admission rules do not finalize which assets retail investors can legally trade. A draft directive in August proposed clearing Bitcoin, Ethereum, and Tether's USDT for public exchange trading, but final asset regulations remain separate.[2]
Key facts
- The Bank of Russia's admission rules for crypto exchange registers take effect on October 5.
- Under the standard application track, the regulator has 30 working days to review exchange applications and 60 working days for digital depositories after receiving complete documentation.
- The admission guidelines also apply to operators of information systems used to issue digital financial rights.
- Qualifying banks, brokers, and experimental-regime participants can apply through an expedited notification route before September 1, 2027.
- Russia's crypto framework, which took effect September 1, caps purchases by non-qualified investors at 300,000 rubles annually per intermediary.
- The October admission rules do not finalize the list of permitted retail assets, which previously proposed Bitcoin, Ethereum, and USDT in an August draft directive.
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CryptoSlate@CryptoSlatePost on X ·
Russia opens crypto exchange applications Oct. 5. Ordinary reviews allow 30 working days for exchanges and 60 for depositories, starting with complete documents. These are decision windows, not trading launch dates. Retail asset rules remain separate. https://t.co/w30lmevpEa
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Russia lets crypto exchanges apply October 5 – but even Bitcoin lacks final retail clearance Crypto exchange operators and digital depositories in Russia will be able to apply for entry into official registers from October 5, when new Bank of Russia admission rules take effect. The move gives firms a route into the regulated crypto market envisioned by a law that took effect in September. Each applicant still needs a separate regulator decision. In a September 24 notice , the Bank of Russia said the rules also cover operators of information systems used to issue digital financial rights. Its Russian regulation sets qualifications for managers and certain officers, lists documents applicants must submit and governs decisions on register entries. A firm seeking admission must document that it meets those requirements before the bank considers its entry. The published rule tells applicants what to provide and how the bank will make its decision. It does not grant a particular applicant the status it is seeking. Related Reading Russia just switched on a crypto market that doesn’t fully exist yet How firms enter the market The bank's exchange-operator guidance says its electronic application form becomes available on October 5. Under the ordinary route, the regulator has 30 working days to decide after receiving the last required document. For a digital depository , that decision window is 60 working days. These are periods for a decision, not promised approvals or dates for customer trading. The clocks begin with a complete set of required documents, rather than with the October 5 effective date itself. Exchange operators and depositories also face different ordinary review windows, so the single start date for the rules cannot be read as a common timetable for admitting firms. Some existing banks, brokers and participants in an experimental regime can use a faster notification route, with eligibility depending on the role sought. The regulator says qualifying firms must submit documents before September 1, 2027. That route also requires a decision on a register entry. Related Reading Why Russia’s harsh 1% crypto cap actually protects bank customer assets Russia's crypto law took effect on September 1 and envisages buying and selling through regulated intermediaries. It requires testing for both qualified and non-qualified investors and sets a 300,000-ruble annual purchase limit per intermediary for the latter group. Those terms describe the intended market; the October rules address how firms can enter it. The assets that non-qualified investors may buy are being handled separately. In August, the central bank named Bitcoin, Ethereum and Tether's USDT for public exchange trading in a draft directive open for comment. The October admission procedure does not finalize that proposed list. Related Reading Russia picks Bitcoin, Ethereum and USDT for public trading as retail faces $58,000 cap For investors, the next markers are the Bank of Russia's decisions on individual firms and the status of the separate asset rules. An effective admission procedure alone does not establish that regulated retail trading is available. The post Russia lets crypto exchanges apply October 5 – but even Bitcoin lacks final retail clearance appeared first on CryptoSlate .
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